Menu
16/04/2002
UK inflation rises during March
The Office for National Statistics has said that UK inflation, excluding mortgage repayments, rose by 0.1 per cent to 2.3 per cent in March from the previous month.
The underlying rate of inflation remains under the government's target of 2.5 per cent a year, which the Bank of England is allowed to over or undershoot by a maximum of one percentage point. Meanwhile, inflation including mortgage repayments rose to 1.3 per cent from 1.0 per cent in February.
While most economists forecast that the next change in interest rates will be upwards, further evidence of a build-up in inflationary pressures came on Monday, when the British Retail Consortium said that High Street sales grew at their fastest monthly rate since 1996 in March.
However, much of last month's increase in inflation was caused by higher petrol prices compared to the same period last year. Crude oil prices have surged on world markets in recent weeks as a result of fears that the current Middle East crisis could disrupt supplies. (MB)
The underlying rate of inflation remains under the government's target of 2.5 per cent a year, which the Bank of England is allowed to over or undershoot by a maximum of one percentage point. Meanwhile, inflation including mortgage repayments rose to 1.3 per cent from 1.0 per cent in February.
While most economists forecast that the next change in interest rates will be upwards, further evidence of a build-up in inflationary pressures came on Monday, when the British Retail Consortium said that High Street sales grew at their fastest monthly rate since 1996 in March.
However, much of last month's increase in inflation was caused by higher petrol prices compared to the same period last year. Crude oil prices have surged on world markets in recent weeks as a result of fears that the current Middle East crisis could disrupt supplies. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
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.
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.
11 April 2002
UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
UK new investment projects fall
The latest Ernst & Young European Investment Monitor survey has revealed that the number of new investment projects into Europe in 2001 fell by 12 per cent on 2000 figures. Countries that performed poorly in 2001 included the UK with a 34 per cent decline from 575 projects to 377.
04 July 2001
PROPERTY PRICES CONTINUE TO RISE
HALIFAX has revealed that UK property prices are rising at their fastest rate since May 2000. Releasing their monthly survey the mortgage bank showed the price of the average home rose 1.6 per cent in June, leaving them 9.7 per cent higher than over the past 12 months.
PROPERTY PRICES CONTINUE TO RISE
HALIFAX has revealed that UK property prices are rising at their fastest rate since May 2000. Releasing their monthly survey the mortgage bank showed the price of the average home rose 1.6 per cent in June, leaving them 9.7 per cent higher than over the past 12 months.
01 November 2018
CMA Launches 'Stop Cartels' Campaign
New research has revealed that many firms don't know enough about how to comply with competition law, according to the Competition and Markets Authority's (CMA). Citing this research, the CMA has launched a cartel awareness campaign, which aims to educate businesses about which practices are illegal.
CMA Launches 'Stop Cartels' Campaign
New research has revealed that many firms don't know enough about how to comply with competition law, according to the Competition and Markets Authority's (CMA). Citing this research, the CMA has launched a cartel awareness campaign, which aims to educate businesses about which practices are illegal.
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.
-
Northern Ireland WeatherThis Evening and Tonight:A mainly dry evening and night with isolated showers dying out and some longer clear spells. Then it will cloud over towards morning with some heavy showers. Minimum temperature 7 °C.
