Latest CPI/RPI figures

Inflation hits 3.8% in June

The rising cost of food and fuel drove UK inflation up to 3.8% in June up from 3.3% in May, according to The Office for National Statistics. This means that inflation is nearly double the government’s 2% target and already closing on the 4% end-of-year figure predicted by the Bank of England. The increasing inflation figure gives the Bank of England’s Monetary Policy Commitee far less room to cut interest rates amidst concerns over the economy as they are expected to cut rates only when inflation is under control. The ONS found that food and non-alcoholic drink prices were the main influences behind the inflation rise with price increases at a record 2.1% Oil prices, touching $147 a barrel last week, also increased inflation with petrol rising by 5.3p per litre between May and ... »

Inflation Figures Steady

After yesterday’s Factory Gate Inflation figures, CPI remains steady and RPI drops. CPI, the Consumer Price Index, remained at 2.1% from November. The Government inflation target is 2%. RPI, the Retail Price Index, actually dropped from 4.3% to 4% in December. Downward contributions to the Consumer Price Index were mainly from the fact that household bills like gas & electricity were not increased at the same rates as they were during the equivalent period 12 months previously and that kitchens and some furniture lines were being discounted, again lower than at the same time last year. Upward contributions to the CPI came from food and non-alcoholic beverage prices increasing; Cauliflowers, tomatoes, onions and cabbages in particular with bread & cereals, sugar, jam, confecti... »