Menu
12/08/2003
UK inflation shows surprise increase
City analysts have voiced their surprise after today's rise in the month-on-month UK inflation rate - up by 0.1% to 2.9% in July.
According to the latest figures from the Office of National Statistics (ONS), the inflationary pressure was mainly attributed to rises in clothing and footwear retail prices. Rises were also recorded in travel, a sector that is currently experiencing the usual seasonal trend for peak rate fares.
The rise in the inflation rate for the ninth consecutive month, surprised many economic forecasters who had been predicting a slight fall in the rate of inflation.
However, according to the ONS the rate of inflation in the UK remains one of the lowest in Europe since the start of 2000.
As the government target for inflation is 2.5%, the unexpected rise in inflation to 2.9% has fuelled speculation that the next rate change may see an increase in the interest rate.
The Bank of England’s Monetary Policy Committee, which sets the lending rate, will be meeting shortly to discuss the September rate. However, it will not be an easy decision. Analysts will be looking at a variety of factors, but the MPC will be noting that the target rate is now three points off a marked departure from the one point variance permitted.
(SP)
According to the latest figures from the Office of National Statistics (ONS), the inflationary pressure was mainly attributed to rises in clothing and footwear retail prices. Rises were also recorded in travel, a sector that is currently experiencing the usual seasonal trend for peak rate fares.
The rise in the inflation rate for the ninth consecutive month, surprised many economic forecasters who had been predicting a slight fall in the rate of inflation.
However, according to the ONS the rate of inflation in the UK remains one of the lowest in Europe since the start of 2000.
As the government target for inflation is 2.5%, the unexpected rise in inflation to 2.9% has fuelled speculation that the next rate change may see an increase in the interest rate.
The Bank of England’s Monetary Policy Committee, which sets the lending rate, will be meeting shortly to discuss the September rate. However, it will not be an easy decision. Analysts will be looking at a variety of factors, but the MPC will be noting that the target rate is now three points off a marked departure from the one point variance permitted.
(SP)
Related UK National News Stories
Click here for the latest headlines.
13 June 2005
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
13 August 2007
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
05 April 2007
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
12 September 2005
House price rise slowdown continues
Annual house price inflation in July was 4%, down from 5% in June according to figures released today by the Deputy Prime Minister's office. This drop in the growth of house prices pushed the annual house price inflation in London down to 0.9% in July 2005, a fall from the from 1.7% figure in June 2005.
House price rise slowdown continues
Annual house price inflation in July was 4%, down from 5% in June according to figures released today by the Deputy Prime Minister's office. This drop in the growth of house prices pushed the annual house price inflation in London down to 0.9% in July 2005, a fall from the from 1.7% figure in June 2005.
14 February 2005
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
-
Northern Ireland WeatherToday:A few fog patches at first, soon clearing to leave a dry day with some patchy cloud and good sunny spells. Light and variable winds. Feeling mild in sunny spells. Maximum temperature 14 °C.Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Minimum temperature 2 °C.
