MSE News: Inflation hits five-year low

Former_MSE_Natasha

This is the discussion thread for the following MSE News Story:

"The Consumer Prices Index (CPI) fell from 1.6% to 1.1% over the month, according to the Office for National Statistics (ONS). The measure was last at this level in September 2004 ..."

Read the full story:

Inflation hits five-year low


Thanks to Really2 for the original post. This thread was merged to prevent duplication

Really2

Sill inflation falls with oil increasing.

Goes to show how global this down turn is and how slack in the system worldwide is driving down prices.

inspector_monkfish

Really2 wrote: »

Sill inflation falls with oil increasing.

Goes to show how global this down turn is and how slack in the system worldwide is driving down prices.

its not released until 9.30am.... how do u know this ???

inspector_monkfish

could be this........



09:25 13Oct09 GBP/USD: Sterling Taken Lower By Leaked Data Talk



Sterling was edged a little lower to 1.5740 on market chatter which suggested the 09:30 UK inflation data had been leaked. There is, however, no indication of what the leaked numbers are.

Cable is bumping along a line just above 1.5750 but looks vulnerable and this despite a drop from 1.5830 at the Asian open.

Really2

inspector_monkfish wrote: »

its not released until 9.30am.... how do u know this ???

Bloody forex factory had them down as released now back to waiting":mad::D

I can see an advanced edit coming on.

inspector_monkfish

Really2 wrote: »

Bloody forex factory had them down as released now back to waiting":mad::D

I can see an advanced edit coming on.

think they are the forecasts ....

lemonjelly

We're waiting....;)

Really2

CPI 1.1% Rpi -1.4%:eek:

Really2

inspector_monkfish wrote: »

think they are the forecasts ....

They were down as forecast and release, either that or my browser wanted to nobble me (or I am blind as a bat)

inspector_monkfish

09:30 13Oct09 UK CPI inflation +1.1 pct in September, lowest yy rate in 5 yrs

LONDON, Oct 13 - British consumer price inflation eased more than expected in September to hit its lowest annual rate in five years due to base effects from the spike in energy prices last year, official data showed on Tuesday.

The Office for National Statistics said prices were unchanged between August and September, the lowest rate of change since records began in 1996.

That left the annual rate of inflation at 1.1 percent, the lowest since September 2004 and below analysts' forecasts for an easing to 1.3 percent.

The Retail Price Inflation price gauge fell to -1.4 percent from -1.3 percent in August, less than forecasts for a bigger decline to -1.5 percent.

The ONS said the biggest impact on annual CPI came from the household services, principally gas and electricity bills, which were unchanged on the month but rose sharply a year ago.
The ONS said electricity, gas and other fuels fell 7.3% on the year, and the lowest rate since the official series began in January 1997


- Lowest monthly rate of CPI since records began in 1996
- Lowest annual CPI rate since Sept 2004
- Lowest yy rate of food and non-alcoholic beverages since May 2006
- Lowest yy rate of housing, water, electricity gas and other fuels since series began in Jan 1997
- Lowest yy rate for restaurants and hotels since series began in Jan 1997
- Lowest yy rate for all goods since May 2005
- Lowest yy rate for all services since series began in Jan 1997
- The ONS said electricity, gas and other fuels fell 7.3% on the year, and the lowest rate since the official series began in Jan 1997
- The ONS said the biggest impact on annual CPI came from the household services, principally gas and electricity bills
- Upward pressure came from transport, in particular fuels and lubricants
- The ROSSI index was up 1.8% on the year, compared with 6.3% in Sept 2008

HAMISH_MCTAVISH

So, with base rates at 0.5%, a devalued pound, and higher oil prices, CPI is now down to 1.1%.... And RPI is -1.4%.

Glad we didn't listen to the morons calling for rate rises all this year.:eek:

The BoE nailed it with that call, strong deflationary pressures, QE was the right thing to do, and no way we'll be seeing rate rises any time soon.