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MSE News: Inflation rises for first time in eight months
Former_MSE_Natasha
Former MSE 672 Posts
This is the discussion thread for the following MSE News Story:
"Petrol prices pushed up inflation last month for the first time since February, official figures showed today ..."
The two threads have been merged to avoid duplication. Thanks to Inspector Monkfish for the original post.
"Petrol prices pushed up inflation last month for the first time since February, official figures showed today ..."
Read the full story:
Inflation rises for first time in eight months
Inflation rises for first time in eight months
The two threads have been merged to avoid duplication. Thanks to Inspector Monkfish for the original post.
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LONDON, Nov 17 - Britain's inflation rate
accelerated in October, as expected, after a sharp fall in
transport costs last year was not repeated, official data showed
on Tuesday.
*********************************************************
CPI KEY FIGURES
OCT SEP F'CAST
CPI %YY 1.5 1.1 1.5
RPI %YY -0.8 -1.4 -1.0
RPI-X% YY 1.9 1.3 1.8
KEY POINTS
- Lowest rate of annual all services inflation since records
began in 1997
- The ONS said the largest upward effect on annual CPI came
from transport, particularly fuels and lubricants where prices
fell by 0.7 percent on the month in October but fell 6.1 percent
last October.
- The price of second-hand cars rose at the fastest annual
rate on record at 13.2 percent.
(MSE Andrea says ok!)
LONDON, Nov 17 - Britain's inflation rate accelerated in October, as expected, after a sharp fall in transport costs last year was not repeated, official data showed on Tuesday.
The Office for National Statistics said consumer price inflation rose to 1.5 percent last month, in line with the consensus forecast, from a five-year low of 1.1 percent in September.
The figures are unlikely to cause undue concern to Bank of England policymakers whose quarterly forecasts last week showed a sharp pick-up in near-term inflation.
Some economists reckon inflation could even hit 3 percent at the start of next year as a temporary cut in value-added tax is reversed.
The ONS said October's pick-up was due to the statistical impact of a record fall in fuel prices in October 2008 not being repeated this year.
The largest upward effect within transport came from fuels and lubricants where prices fell by 0.7 percent on the month in October but fell 6.1 percent last October.
The price of second-hand cars rose at the fastest annual rate on record at 13.2 percent. Air fares also put upward pressure on the index.
Retail Price Inflation, a gauge that includes housing costs and is used as the basis for many wage deals, came in at -0.8 percent from -1.4 percent in September.
(MSE Andrea says ok!)
1013 GMT - Gilts move higher Tuesday, after the October inflation data printed slightly higher than expected. Still, markets think this rise will only
continue on a relatively short term basis as consumer spending power is expected to be subdued in 2010, and monetary policy to remain loose. The December gilt futures contract is currently up 0.30 on the day at 117.94, from 117.78 prior to the data, while the 10-year benchmark gilt is up 0.21 at 106.125, yielding 3.714%, from 3.733% prior to the data. (NKA)
(MSE Andrea says ok!)
Bloody right too!
telegraph.co.uk
Apart from mortgage costs, I doubt anyone else has seen significant deflation this year anyway.