UK Inflation Rate

Conrad

Inflation was higher most of my life, I don't recall mass starvation.


Just another silly Remain scare story. Where was their concern just a few years ago when inflation was higher?

worldtraveller

Main points

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.3% in March 2017, unchanged from February.

• The rate has been steadily increasing following a period of relatively low inflation in 2015.

• Rising prices for food, alcohol and tobacco, clothing and footwear, miscellaneous goods and services were the main upward contributors to change in the rate.

• These were largely offset by a downward contribution from transport, particularly air fares and, to a lesser extent, motor fuels.

• The Consumer Prices Index (CPI) 12-month rate was also 2.3% in March 2017, unchanged from February.

ONS

davomcdave

worldtraveller wrote: »

Main points

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.3% in March 2017, unchanged from February.

• The rate has been steadily increasing following a period of relatively low inflation in 2015.

• Rising prices for food, alcohol and tobacco, clothing and footwear, miscellaneous goods and services were the main upward contributors to change in the rate.

• These were largely offset by a downward contribution from transport, particularly air fares and, to a lesser extent, motor fuels.

• The Consumer Prices Index (CPI) 12-month rate was also 2.3% in March 2017, unchanged from February.

ONS

Inflation rises have stalled however the figures are not adjusted for the timing of Easter which apparently makes a difference.

A_Medium_Size_Jock

Inflation chart for 1950's onwards:
http://www.inflation.eu/inflation-rates/great-britain/historic-inflation/cpi-inflation-great-britain.aspx

Inflation (even at the suggested summer peak of around 3%) has historically been above this rate for most of my lifetime and indeed was higher as recently as 2011 and 2012.

worldtraveller

Inflation, as measured by the Office for National Statistics' Consumer Prices Index (CPI), jumped to 2.7% in April - up from 2.3 % in March. This is the highest rate since September, 2013.

Main points

• The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.6% in April 2017, up from 2.3% in March.

• The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since June 2013.

• Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year.

• Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase in the rate.

• These upward contributions were partially offset by a fall in motor fuel prices between March 2017 and April 2017, compared with a rise between the same 2 months a year ago.

• The Consumer Prices Index (CPI) 12-month rate was 2.7% in April 2017, up from 2.3% in March.

ONS

michaels

Not even the BBC are saying it is the end of the world and indeed have even picked up signs that the cost pressure from rising import prices is starting to abate - no doubt the slightly stronger GBP is helping. I still think the BoEs predicted max value of 3% this year look swildly hopeful but it shoud peak below 5% and is unlikely to result in a requirement for interest rates to increase unless we start to see wage pressure - perhaps from the NMW and a tighter labour market due to reduced EU migrant availability.

sheffield_lad

£ now over $1.30

We my see drops in the inflation rate in the coming months as the £ drop is built in from the end of next month.

sevenhills

When Trump was elected, the markets liked it, but they seem to be having a wobble now.
He was said to be pumping money into the economy, although in some areas he has done the opposite of what he said. Didnt rates in the USA start to rise, will that continue?

michaels

sevenhills wrote: »

When Trump was elected, the markets liked it, but they seem to be having a wobble now.

Probably because he is threatened with impeachment. Whether Trump is liked or loathed going through a protracted period of political uncertainty is not good for policy making and thus not good for the markets.

gfplux

michaels wrote: »

Probably because he is threatened with impeachment. Whether Trump is liked or loathed going through a protracted period of political uncertainty is not good for policy making and thus not good for the markets.

Political uncertainty.......like Brexit!!!

Couldn't resist, please forgive me.