Food And Fuel Reduce CPI

CPI grew from 1.2% in the year to September to 1.3% in the year to October according to a statistical bulletin from the ONS. So goods that cost £100 last October cost £101.3 this October.

The main contributors to the rise in inflation were smaller falls in the costs for motor fuels and air fares and price rises for computer games.

The three main contributors to annual inflation over the last five years have been housing, water, electricity, gas and other fuels and restaurants and hotels. Together these three sectors have accounted for nearly half of inflation each month. Food and fuel prices which normally contribute to rises in annual inflation have been helping to reduce it by 0.3%.

CPI Up By 1.2%

The Consumer Price Index (CPI) grew by 1.2% (128.3 - 128.4, 2005=100) over the year to September 2014, down from 1.5% in August according to the ONS. Falls in sea fares and air fares and recreational goods were mainly responsible for the fall.

Housing and household services accounted for a third of the rate of inflation and if falling food and fuel prices were excluded the rate would be a third higher.

Inflation Up 1.5%

The CPI published by the ONS grew by 1.5% in the year to August 2014, a fall of 0.1% from 1.6% in July. The largest downward contribution came from a fall in the prices of motor fuel and food and non-alcoholic drinks. These pressures to lower prices were offset by upward pressure from clothing, transport services and alcohol.

CPI Up 1.6% In July

Consumer inflation grew by 1.6% over the year to July 2014, a fall of 0.3% from 1.9% in June. The largest factor in the fall in the rate was the fall in the price of clothing. Downward effects also came from alcohol, financial services, and food product groups. The largest upward effect came from transport.

1.9% Increase In Annual Inflation In June

The CPI grew by 1.9% over the year to June from 1.5% in May with the largest contribution coming from clothing, food and non-alcoholic drinks and air transport. It means that a basket of goods that cost £100 in June 2013 costs 101.90 in June 2014.

Consumer Infaltion Up To 1.5%

The Consumer Prices Index (CPI) which measures consumer inflation grew by 1.5% over the year to May 2014, down from 1.8% in April. Transport services costs made the largest contribution. Downward effects came from food and non-alcoholic drinks and clothing sectors. These downward trends were offset by increases in motor fuels and recreation and culture.

Easter Sees CPI Rise To 1.8%

The consumer prices index (CPI) grew by 0.2% to 1.8% over the year to April 2014 according to a statistical bulletin from the ONS. The CPI was 1.6% in March. The increase was mainly due to increases in airfares, sea fares and motor fuels probably as a result of the Easter holidays. These travelling costs were the main contributor to the overall increase in the CPI.

Employment Continues In General Direction Of Last Two Years

The number of people in employment continues to increase according to the latest Labour Market Survey from the ONS.

There were 30.43m people in employment according to estimates for January to March 2014, 283,000 more than October to December 2013 and 722,000 more than a year ago. An increase in the number of self-employed people partly accounts for the increase.

The increase in numbers of people employed approximates to 72.7% of people aged 16 to 64 in January to March from 72.1% for October to December 2013 and 71.4% from a year earlier.

The unemployment rate was 6.8% or 2.21m unemployed people down 133,000 from October to December 2013 and 309,000 from a year earlier.

Average weekly earnings in March 2014 were £449/week for average regular pay and £474/week for average total pay. Total pay has increased by 1.7% over the year to January to March 2014. Regular pay has increased by 1.3% over the same period. CPI increased by 1.6% between March 2013 and March 2014.

There were 628,000 job vacancies for February to April 2014 up from 116,000 a year earlier.

Annual CPI Inflation At 1.6%

CPI inflation increased by 1.6% in the year to March 2014. It was 1.7% in February. Between February and March 2014 the CPI rose by 0.2% compared with 0.3% between the same two months of last year. Downward pressure mainly came from transport, especially motor fuels but also from clothing and furniture and household goods.

Transport prices didn't change much between February and March 2014 compared with the 0.6% increase a year earlier. Petrol prices were unchanged compared with a 2.2% rise last year. Diesel fell by 0.4p/litre compared with a rise of 1.9p/litre last year. Air transport fares grew by less than they did a year ago.

As usual, prices for clothing and footwear increased between February and March but by less than last year. Downward pressure mainly came from women's outer garments. Furniture and household goods prices went up by 0.3% over the month compared to a rise of 0.8% last year.

The main upward contribution came from restaurants and hotels where prices increased by 0.5% compared with 0.2% last year mainly from price increases for overnight stays in hotels. Prices for alcohol, particularly spirits, and tobacco rose this year but fell last year.

CPIH which includes owner occupier housing costs (OOH) grew by 1.5% in the year to March 2014. RPIJ grew by 1.8% from 2% in February. RPI annual inflation was 2.5%.

Inflatiom Below 2% At 1.9%

Growth in CPI inflation fell to 1.9% in the year to January 2014 from 2% in December 2013 according to a statistical bulletin from the ONS.

Decreases in prices for recreational goods and services, furniture and household goods and alcoholic drinks and tobacco were the main contributors to the fall. These price movements were offset by an upward movement in prices for miscellaneous goods and services.

The change in the inflation figures means that a basket of goods and services that cost £100.00 in January 2013 would cost £101.90 in January 2014.

CPIH grew by 1.8% in the year to January 2014 down from growth of 1.9% in December 2013. CPIH is an inflation measure that includes owner occupier housing costs (OOH) but not things like utility bills, minor repairs and maintenance.

Consumer Inflation Down To 2% Target

The CPI grew by 2% in the year to December, down from 2.1% in November, due mainly to contributions from the food and non-alcoholic beverages sector and recreational goods and services. Inflationary increases in motor fuels partly offset the downward pressures. Price increases for gas and electricity over the year were slightly more than last year resulting in an upward contribution to inflation. The Bank of England had set a target of 2% for inflation for stability. It is the first time that the CPI has been at 2% since November 2009 (1.9%).

The three main contributors to inflation in recent years have been food and non-alcoholic beverages, housing, water, electricity, gas and other fuels and transport (incl. other fuels). These sectors combined have accounted for more than half of the inflation rate for each month.

Inflation Rate 2.2% Down From 2.7%

The recent ONS statistical release on consumer inflation suggests that the CPI grew by 2.2% in the year to October 2013 down from 2.7% in September, but still above the Government's target of 2%. The main contributions to the fall in the rate came from transport and education. The CPIH and RPIJ likewise moved in a similar direction with rates of 2% from 2.5% and 1.9% from 2.5% respectively.

Consumer Inflation Up By 2.7%

The CPI grew by 2.7% in the year to September 2013 the same as it did in August. Changes in air fares contributed most to the upward movement but changes in petrol and diesel prices offset this with their downward contribution.

The fall in air fare prices at 18.7% was smaller than the 25.2% decrease a year ago giving an upward contribution to the change in CPI. Similarly a fall in fuel prices of 0.2% compared with an increase of 2.7% a year ago giving the downward contribution.

Inflation Down To 2.7%

The Consumer Prices Index (CPI) fell from growth of 2.8% in July to 2.7% in August according to a statistical bulletin from the ONS. Transport and the clothing sectors made the biggest contribution to the fall. Furniture and household equipment and maintenance offset the downward progression with upward contributions.

The CPIH index was 124.3 and the one month rate of change was 0.4% and the yearly rate change was 2.5%. CPIH is a new measure of consumer price inflation that includes owners occupiers' housing costs (OOH).

CPI Up To 2.9%

Inflation, using the Consumer Prices Index (CPI), increased by 2.9% in the year to June 2013 compared to 2.7% in May, an increase of 0.2%. The Government's target is still 2%. The main upward drivers were motor fuels and clothing and footwear. Air transport provided the biggest downward pressure.

Inflation Up To 2.7%

Consumer inflation grew by 2.7% over the year to May 2013 according to a statistical bulletin on the CPI from the ONS. Transport with an increase of 0.4% compared with a fall of 0.8% last year and clothing particularly womens' outerwear with an increase of 1.2% were the main contributors to the increase. Food contributed the biggest downward pressure on the index.

The rate has returned to the levels reached during October 2012 and March 2013 after the rate slowed to 2.4% in April. The monthly rate between April and May increased to 0.2%. April and May 2012 saw a decrease of 0.1%. The government's target is still 2%.

Consumer Price Inflation At 2.4%

The CPI grew by 2.4% on the annual comparison for April 2013 down from 2.8% in March but still above the 2% target set by the Government. The annual rate has however been relatively stable over the last six months. The largest downward contribution came from transport costs, motor fuel and air fares. Food and non-alcoholic beverages provided the only real upward pressure.

CPI Inflation Up To 2.8%

The CPI measure of inflation rose to 2.8% over the year to February 2013 following 4 consecutive months at 2.7%. The largest upward drives came from increases in energy prices and prices of some recreational goods, petrol and air travel. Downward pressure came from small price increases for food and soft drinks and a fall in the price of alcohol compared with the price rises of last year. It follows 4 years of widely fluctuating inflations rates.

The figures mean that a basket of goods that cost £100 in February 2012 would cost £102.80 in February 2013.

The new measure of consumer price inflation, CPIH including owner occupiers’ housing costs, has been launched. The CPIH annual rate is 2.6% in the year to February 2013, up from 2.5% in January.

Additionally, a new Retail Prices Index-based index using a geometric formulation (known as the Jevons formula) has also been launched. The 12-month rate for this index, known as RPIJ, stands at 2.6% in February compared with 2.7% in January.

Inflation Unchanged For The Fourth Month In A Row

CPI annual inflation grew at a rate of 2.7% in January 2013 unchanged again this month. It is the fourth month in a row, the longest period ever, that inflation has remained unchanged. The CPI was 124.4. It is still below the government's target of 2%. The RPI annual inflation was 245.8 or 3.3% in January up from 3.1% in December.

CPI Inflation Up 2.7%

The CPI annual inflation for November 2012 was 2.7%, the same as in October. The index sttod at 124.4 (2005=100). The index was unchanged over all but there were significant changes both upward and downward within the CPI between October and November.

The most significant upward pressure to annual inflation came from food and non-alcoholic beverages, mainly bread, cereals and vegetables and housing and household services mainly gas and electricity. The main downward pressure came from motor fuel and furniture, household equipment and maintenance.

The RPI annual inflation stands at 245.6 in November or 3%, down from 3.2% in October. Motoring expenditure, household and household goods provided the main downward pressure. The main upward pressure came from food.

The CPI measures the changes in the general level of prices for goods and services bought for household consumption. It can be seen as a shopping basket of many different goods and services bought by households. The CPI is the main measure of consumer price inflation for macro-economic purposes. It is used as the basis for the Government's target for inflation that the Bank of England has to achieve. It is also used for the indexation of benefits, tax credits and public service pensions. It is known internationally as the Harmonised Index of Consumer Prices (HICP). HICPs are calculated in each Member State of the European Union. They are used to compare inflation rates across the EU.

The RPI is the longest standing measure of inflation in the UK and historically was used in the indexation of various prices and incomes, the uprating of pensions, state benefits and index-linked gilts and the valorisation of excise duties. Since April 2011 the CPI has been used for some of the previous uses of the RPI as mentioned above.

Some of the main differences between the CPI and the RPI include the population base, item coverage, index methodology and item coding. The CPI population base includes all private and institutional households and foreign visitors. The RPI only includes private households and excludes the highest income households and pensioner households (c.13% of household expenditure). The CPI excludes certain items related to housing costs like mortgage interest payments, house depreciation and council tax that are included in the RPI. The RPI uses the arithmetic mean, the CPI uses the geometric mean. The CPI uses a standard internatikonal classification scheme and the RPI uses a system unique to itself.