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20/03/2012
UK Inflation Falls To Lowest Since 2010
UK inflation has continued to fall into February thanks largely to lower gas and electricity prices.
Februarys Consumer Price Index (CPI) inflation fell to 3.4%, a .2% drop since January. Retail Price Index (RPI) inflation, including mortgage interest payments, also fell to 3.7% from 3.9%.
Inflation has been falling steadily since September last year and the CPI rate is at its lowest since November 2010.
Retailer discounts have helped the rate to drop, although higher alcohol prices stopped it dropping further.
“The Bank of England is hoping that it's going to fall to 2% by the end of the year," said Chris Williamson, chief economist at Markit.
"The fact it's been a little bit sticker than we hoped this month really casts further doubt on the Bank's projection.
"So this might be another case of the Bank being a little bit too optimistic of where inflation's going to go."
Others were less concerned.
"We thought the risks were that it would be a bit above the consensus, but in the scheme of things it's pretty much in line," said Ross Walker, RBS economist.
(H)
Februarys Consumer Price Index (CPI) inflation fell to 3.4%, a .2% drop since January. Retail Price Index (RPI) inflation, including mortgage interest payments, also fell to 3.7% from 3.9%.
Inflation has been falling steadily since September last year and the CPI rate is at its lowest since November 2010.
Retailer discounts have helped the rate to drop, although higher alcohol prices stopped it dropping further.
“The Bank of England is hoping that it's going to fall to 2% by the end of the year," said Chris Williamson, chief economist at Markit.
"The fact it's been a little bit sticker than we hoped this month really casts further doubt on the Bank's projection.
"So this might be another case of the Bank being a little bit too optimistic of where inflation's going to go."
Others were less concerned.
"We thought the risks were that it would be a bit above the consensus, but in the scheme of things it's pretty much in line," said Ross Walker, RBS economist.
(H)
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