10/12/2001

Further falls in price of UK manufactured goods

The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month.

Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.

The figures show that inflationary pressures remain subdued, which gives the Bank of England more scope to cut interest rates in order to stimulate the economy.

Producer prices dropped by one per cent compared to last year, and input prices fell by a 1.1 per cent on the month in line with a massive decline in world crude oil prices.

The Bank of England have reduced interest rates seven times since February this year in response to slowing manufacturing output and faltering business confidence. (CD)

Related Northern Ireland Business News Stories
Click here for the latest headlines.

03 August 2001
Halifax report house price rises dip in July
Rampant house price rises at the start of the year have shown their first dip according to a new survey released by the Halifax. In July the average house price rise dropped off to 0.7 percent, which has been interpreted as the first sign that the early year rises of almost 11 per cent may be tailing off.
13 March 2020
Coronavirus Business Interruption Loan Scheme
A loan scheme to support businesses interrupted by the coronavirus outbreak is to be up and running in the coming weeks, the Chancellor has announced. Detailing Budget 2020, Chancellor Rishi Sunak said the Coronavirus Business Interruption Loan Scheme will temporarily replace the Enterprise Finance Guarantee (EFG).
03 January 2002
House price growth to slow in 2002
The property market is set to experience a slip in demand during 2002 according to leading UK mortgage lender Nationwide and a twice-yearly survey by the CBI and property advisers GVA Grimley. The Nationwide review of 2001 revealed that UK house prices grew significantly during 2001 despite the global economic slowdown.
18 June 2002
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
26 March 2002
Ofreg publish proposals for NIE transmission and distribution
The Northern Ireland Electricity Regulator has published his initial proposals for NIE’s Transmission and Distribution (T&D) network for the period 2002-2007. Mr Douglas McIldoon said: “The cost of transmitting and distributing electricity has fallen across Great Britain throughout the first 15 years following privatisation.