The Consumer Prices Index rose for the 4th month in a row in April by 2.3% to 110.1 compared to 2.9% in March mainly due to food and non-alcoholic beverages. The Retail Prices Index (RPI) grew more slowly but gained for the 4th month in a row in April as the % increase over 12 months fell again this time by 1.2% to 211.5 from 211.3 in March with the largest contribution from mortgage interest payments. The RPI excluding mortgage interest payments also continued to rise but again the increase was less than previous months at 1.7%.
Large downward contributions to the CPI were made by housing and household services, due to electricity and gas bills, restaurants, hotels, recreation and culture and food and beverages, vegetables and meat. Smaller downward contributions came from fruit, bread and cereals. Small partial offsetting effects were noticeable from insurance costs, AV equipment, cultural services and cable TV subscriptions. Large upward contributions came from vehicles, fuels and lubricants and air transport.
The main downward contributions to the RPI were from mortgage interest payments, house depreciation, rent, council tax and house insurance. Other downward contributions came from electricity and gas bills, food, alcoholic drinks and tobacco. There was a small downward contribution from catering. The largest upward contribution came from motoring, where car prices and car sales were both up on last year, fuel, vehicle tax and insurance. Household services also made an large upward contribution as landline telephone charges went up by more than last year and there was a small contribution from household goods.
The difference between the CPI and the RPI was 3.44% the main factors were mortgage interest payments and other housing components.
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