Menu
18/01/2005
Inflation continues to rise in UK
The Office of National Statistics (ONS) has confirmed that the UK inflation rate rose last month, with the consumer price index (CPI) rising from 1.5% in November to 1.6% in December.
The ONS said the rate had been affected by several factors, including much steeper price rises for furniture and furnishings than the previous year and reduced supplies for some vegetables, which had also led to price rises. Price rises for some computer games, toys and theatre admissions had also had a large upward effect. The prices for these items had fallen the previous December.
Rising household energy costs for the third successive month also impacted upon the annual rate. Inflation in gas and electricity bills increased again in December, reflecting the ongoing impact of significant tariff increases, which were announced by a number of major suppliers in September and November.
The RPI inflation rate, which rose to 3.5% in December, was also influenced by similar factors.
However, inflation in most housing costs, which are excluded from the CPI, fell. The ONS attributed this to the effect of the interest rate rise on mortgage interest payments in November 2003, dropping out of the 12 month comparison.
The annual rate for the all-items RPI, which excludes mortgage interest payments (RPIX), was 2.5% in December, an increase from the previous month's figure of 2.2%.
(KMcA/SP)
The ONS said the rate had been affected by several factors, including much steeper price rises for furniture and furnishings than the previous year and reduced supplies for some vegetables, which had also led to price rises. Price rises for some computer games, toys and theatre admissions had also had a large upward effect. The prices for these items had fallen the previous December.
Rising household energy costs for the third successive month also impacted upon the annual rate. Inflation in gas and electricity bills increased again in December, reflecting the ongoing impact of significant tariff increases, which were announced by a number of major suppliers in September and November.
The RPI inflation rate, which rose to 3.5% in December, was also influenced by similar factors.
However, inflation in most housing costs, which are excluded from the CPI, fell. The ONS attributed this to the effect of the interest rate rise on mortgage interest payments in November 2003, dropping out of the 12 month comparison.
The annual rate for the all-items RPI, which excludes mortgage interest payments (RPIX), was 2.5% in December, an increase from the previous month's figure of 2.2%.
(KMcA/SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
21 November 2005
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
12 January 2004
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
14 August 2001
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
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.
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.
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.
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.
-
Northern Ireland WeatherThis Evening and Tonight:Rather cloudy and mainly dry at first, but showery outbreaks of rain soon extending westwards to most places during the night, turning heavier towards morning. Light winds. Minimum temperature 9 °C.
