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.

Trade Deficit In Goods Now £27.4bn

The deficit on UK trade in goods widened by £0.9bn to £27.4bn in Q2 2014 compared with a deficit of £26.5bn in Q1 2014. There was a change in value of -£0.5bn or 0.7% in total exports to £71.3bn and a change of -£0.4bn or 0.4% to £98.7bn in total imports in Q2 2014.

At the level of the change in value by industry, exports in agriculture, forestry and fishing products fell by £45m and imports fell by £9m. Information and communications services exports increased by £25m and imports also increased by £2m. In professional, scientific and technical services exports fell by £3m and imports fell by £1m. Arts, entertainment and recreation imports increased by £91m and imports fell by £198m.

European Inflation Falls In October

Inflation in Europe fell in October according to Eurostat. Euro area inflation fell 0.1% from 2.6% in September to 2.5% in October. EU annual inflation was 2.6% in October down from 2.7% in September. The annual comparison also shows a decrease in inflation in the euro area from 3% and in the EU27 from 3.4% last year. The lowest annual rates in October were seen in Greece, Sweden and Latvia and the highest in Hungary, Romania and Estonia. The lowest annual averages were in Sweden, Greece and Ireland and the highest in Hungary, Estonia and Poland. In the euro area the main components for annual rates were transport, alcohol and tobacco and housing and the lowest in communiactions, recreation and culture, clothing and household equipment. The monthly rate were mainly affected by clothing and education, alcohol and tobacco and the lowest for transport, communications, recreation and culture and hotels and restaurants.

Inflation Falls For Fourth Month In A Row

The CPI annual inflation fell 0.4% from 2.8% in May to 2.4% in June 2012 according to data from the ONS. The index has fallen for three consecutive months. It at its lowest since November 2009 when it stood at 1.9%.

Clothing and footwear, transport and food and non-alcoholic beverages made the most difference downwards. Upward pressure came from recreation and culture.

RPI stands at 2.8% in June down from 3.1% in May.

Inflation Stands At 3.4%

CPI inflation stands at 121.8 or a percentage change of 3.4% in February 2012 according to a statistical bulletin from the ONS. RPI inflation stands at 3.7%. The annual rate is the lowest since November 2010.

The biggest downward pressure on the CPI came from domestic electricity and gas, recreation and culture and transport. The biggest upward pressure came from alcohol off sales and vegetables.

On the monthly comparison the CPI rose by 0.6% between January and February 2012 compared with 0.7 a year ago. The biggest upward pressure on the monthly comparisdon came from clothing and footwear, food and non-alcoholic beverages, transport and furniture. The biggest downward pressure came from housing and household services.

Inflation Down To 4.2%

The latest bulletin from the ONS on consumer inflation says that annual inflation has fallen to 4.2% in June 2011 from 4.5% in May. The government target is 2%. Recreaton and culture provided the main downward pressure for the decrease. In particular games, toys and hobbies were the main contributor along with pressure from audio visual equipment price discounting. Upward pressure came from a variety of food products.

The CPI fell by 0.1% between May and June 2011 due mainly to downward pressure from recreation and culture particularly computer games, photographic equipment, data processing equipment, recording equipment and books and also from clothing and footwear as some summer sales began in women's fashion. Upward pressure came from food and drink mainly bread and cereals, meat and milk, cheese and eggs. Mineral waters, soft drinks and juices helped to offset the increase. The RPI stands at 5% in June.

Inflation Up To 4%

The latest inflation data from the ONS says that CPI annual inflation now stands at 4% from 3.7% in December. The government target for CPI is 2%. The main contributory factors were petrol and diesel prices, restaurants and cafes, furniture and furnishings, alcoholic beverages and vehicle purchases. Two important factors that also made an impact were the increase in VAT and the price of crude oil. Downward pressure on the CPI came from recreation and culture, banking services and clothing and footwear. The RPI increased from 4.8% in December to 5.1% in January 2011.

The all items CPI hasn't been higher since November 2008, non-alcoholic beverages, restaurants and hotels and petrol haven't been higher since records began.

Consumer Inflation At 3.2%

Annual inflation increased from 3.1% in September to 3.2% last month according to figures released by ONS. The main upward pressure for the change came from petrol and diesel, financial services and games, toys and hobbies (mainly computer games bought in shops rather than online) and the main downward pressure came from food prices. Vegetable prices fell 1% and meat prices were unchanged but went up last year. The index stands at 115.2.

There was an increase of 0.3% over the month. The most significant contributions came from recreation and culture (games, toys and hobbies 1.9% and cultural services 1.7%) and transport (fuels and lubricants 1.8%). Downward pressure over the month came from furniture, household equipment and maintenance (furniture and furnishings -3.4%) and clothing and footwear (-0.7% largely from garments).

Inflation Falls To 3.1%

CPI annual inflation fell last month to 3.1% from 3.2% in June. Second-hand cars and fuel were the main downward factors between June and July but as in June there were downward contributions from clothing and footwear and additionally from recreation and culture. Upward pressure came from food and non-alcoholic beverages and furniture and household goods. The index stood at 114.3 down from 114.6 in May (2005=100).

CPI Inflation Falls To 3.2% In June

Headline CPI inflation for June 2010 was 3.2%, down from 3.4% in May and stood at 114.6 (2005=100). The main contributors to the fall in the annual CPI were undoubtedly falling petrol and diesel prices and it was also helped by a record fall in June sales prices for clothing and footwear. Upward pressure on inflation came mainly from rises in air fares and increased insurance premiums.

The CPI rose 0.1% between May and June 2010 but the changes are within the normal range for that period. The main causes of the monthly changes were increases in the prices of computer games ands consoles within the recreation and culture category, increased European and long-haul air fares and a record increase for May to June of 5.7% in transport insurance premiums. The downward pressure from clothing and footwear of a 2.1% fall in prices was due mainly to women's outerwear.

The all-items RPI and the RPIX (RPI excluding mortgage payments) increased by 5% from 5.1% in May. The RPIY (excluding mortgage payments and indirect taxes) increased by 3.8%.

Inflation Up 3.7%

The CPI for May rose by less than in April but it is still far higher than the Government target of 2%. It rose by 3.7% in April. The index was 114.4. The RPI at 223.6 rose by 5.1% down from 3.7% last month. The RPIX (RPI excluding mortgage interest payments) rose to 222.8 or by 5.1%, down from 5.4% the previous month.

The main contributory sectors to the change in the CPI were food and non-alcoholic beverages chiefly meat and in particular pork and fruit particularly grapes. Vegetables also had a small downward effect. Transport also had a downward effect as did the purchase of new cars and road passenger transport. Alcoholic beverages and tobacco, recreation and culture both had large downward effects. Books had a small upward effect. Housing and household services provided the only large upward contribution.

The RPI experienced a large downward contribution from food, fruit particularly grapes and mayonnaise and meat. Motoring expenditure and the purchase of motor vehicles made downward effects. The price of alcohol rose but by less than a year ago. Small downward contributions came from leisure services in particular foreign holidays, tobacco prices rising by less than a year ago and from household services again prices rising by less than a year ago. A small upward contribution was made by household goods where there were price rises. Furniture, in particular, kitchen base units provided the upward effect partially offset by a downward effect from furnishings.

European Annual Inflation Goes Up To 1.5%

Annual inflation in the euro area went up to 1.5% in April from 1.4% in March, according to the HICP from Eurostat. The monthly rate was 0.5% in April 2010. EU annual inflation was up to 2% in April from 1.9% in March. Last year it was 1.3%. The monthly inflation rate was 0.4%.

At the national level, the lowest rate of HICP inflation was in Latvia with -2.8% and then Ireland with -2.5%. They were the only negative rates this month. The highest rates of inflation were in Hungary 5.7%, Greece 4.7% and Romania with an inflation rate of 4.2%.

The main components contributions were from energy 9.1%, transport 5.9% and alcohol and tobacco with 4.2%. The lowest contributions were from recreation and culture -1%, communications -0.6% and food with a negative percentage of 0.2%.

Inflation Down to 3%

The CPI rose by 3% in the year to February to 112.9. In January it had been 3.5%. The RPI in February was 219.2 an increase of 3.7%. The RPI excluding mortgage interest payments was 4.2% up, down from 4.6% in January.

Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.

Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.

CPI At 3% In February

The CPI rose by 3% in the year to February to 112.9. In January it had been 3.5%. The RPI in February was 219.2 an increase of 3.7%. The RPI excluding mortgage interest payments was 4.2% up, down from 4.6% in January.

Recreation and culture provided the main downward contribution as prices remained unchanged over the survey period of January and February. Within this group the games, toys and hobbies sector was the main factor and in particular computer games and pre-school activity toys. Books, particularly non-fiction, also made a significant contribution. Clothing and footwear provided the only upward contribution particularly women's outerwear due to prices rising more than they did last year. Hotel accomodation provided a small upward contribution in the hotels and restaurants sector.

Housing provided the largest upward contribution to the RPI mainly due to mortgage interest payments. House depreciation also had an effect. Clothing and footwear added to the increase in the RPI. Fares and other travel particularly air fares also helped increase the RPI. Downward contributions came from motoring expenses, where fuel price increases were lower than last year, leisure and household goods and off-sales wines and spirits within the alcoholic beverages sector.

Inflation Hits 3.5%

The Governor of the Bank of England had to write to the Prime Minister to explain the fact that CPI inflation hit 3.5% in January. It is the second largest ever increase in the annual rate between 2 months. There was a 1% increase in the annual rate between November and December. CPI records began in 1996. The all items CPI is 112.4 down from 112.6 in December a change of 0.2% and although the index took a downward movement it is the greatest growth ever for those two months.

Both of these record movement can be at least partially explained by the 15% to 17.5% increase in VAT in January which also affected RPI. Another factor was the price of crude oil. The all goods CPI annual rate is 3.9% from 3.2% last month and the all services CPI annual rate is 3% from 2.6% last month.

The all items RPI in January was 217.9 down from 218 in December, the annual rate being 3.7% from 2.4%. The RPIX (excluding mortgage interest payments) was 4.6% from 3.8%. The all goods index was 169.3 from 169.7 or an annual rate of 6.5% from 5.3%. The all services index was 288.6 from 288.2, or an annual rate of 3.1% from 2.8% last month.

The largest upward contribution to the annual rate of CPI was from transport. Within transport the largest contribution came from a 2.2% rise in the price of fuels and lubricants compared with a fall of 3.4% last year. There were also large upward contributions from maintenance and repairs and the purchase of new and second hand cars. These were partially offset by a fall in prices in fares particularly in long-haul routes and sea transport. Another significant upward contribution came from recreation and culture where recording media particularly DVD purchases were significant along with subscriptions to cable and digital television.

Housing was a significant contributor to the increase in the RPI where mortgage interest payments rose this year but fell a year ago. After housing came motoring expenses mainly petrol and oil. Tobacco was also a significant contributor along with food, alcohol and household services, fuel and light and leisure goods.

Services Output Index Contracts By 0.1%

The services sector output index for the quarter to September 2009 decreased by 0.1% compared with the previous quarter. There were decreases in three of the five components that make up the index, business services and finance, hotels and restaurants and Government and other services. Distribution showed the most significant increase over transport and communication.

The increase in distribution was 1.1%, while transport increased by 0.5%. The Government sector reported the a decrease of 0.2%, most significantly in education and recreation, then came business services at 0.3% and hotels and restaurants a 2.7% decrease. The indicator for the output of the services sector for the month between August and September showed an increase of 0.4%.

Inflation Up In October

Both the all items CPI and the all items RPI were up in October. The annual rate for the CPI was 1.5% from 1.1% and for the RPI -0.8% from -0.1.4% last month. The annual rate for the RPIX was also up from 1.9% from 1.3% last month.

Looking at goods and services separately, the CPI for goods was 108.4 up from 108.3 giving an annual rate of 0.8% from 0.0% last month. The RPI all goods index was unchanged at 168.1. The all services index under the CPI was 115.7 from 115.4 at a rate of 2.3% down from 2.5% last month and for the RPI it was 285.1 from 283.8 and the rate is unchanged at 2.1%. The Tax and Price Index (TPI) for October was 192.9 from 192.2, or a rate of -1.6% up from -2.3% in September.

Transport contributed a large upward effect on the CPI due to falling prices in fuels and lubricants. Other noteworthy effects came from recreation and culture with price rises from the recording media in particular DVDs, games, toys and hobbies, food and non-alcoholic beverages and communications due to increases in landline telephone charges. A small upward effect came from furniture and household goods. Downward effects came mainly from miscellaneous goods and services in particular banking services, and education due to the effect of the increase in university fees. Housing and household services made a small contribution. These variations were reflected in the RPI with motoring expenditure the largest upward effect due to petrol and oil prices, housing in particular housing depeciation, food principally non-seasonal food, fares and other travel, household goods and services (furniture, telephones) , personal goods and services and leisure goods also made an impression.

Food Helps CPI Rate Stay The Same

The CPI rate of inflation rose by 1.8% the same amount as in June with the index at 110.9 compared with 111.0 in June. The RPI fell by 1.4% over the same period compared with a fall of 1.6% to June. The RPIX rose by 1.2% from 1.0% in June.

The largest contribution to the downward trend cam from food and non-alcoholic beverages. Meat prices are falling this year but were rising a year ago across a range of products. vegetables also contributed a large downward effect and bread and cereals a smaller effect. Other downward effects came from hotels and retaurants, particularly restaurants and cafes and especially take-aways and accomodation services. Housing and household services alse feature due to fuel costs. Within this grouping regular maintenance and repairs had an effect offsetting and upward effect from rents.

Recreation and culture provided the biggest upward contribution mainly games, toys and hobbies but with small effect from an increase in the prices of computer games and DVDs. Small price rises in alcoholic beverages andf tobacco also contributed a small increase.

Motoring expenditure made the biggest upward contribution to the RPI. Car prices rose this year compared to last and tax and insurance premiums also rose by more than last year. A large downward contribution from petrol and oil helped offset these effects where prices rose more slowly than last year. Other large downward contributions came from fuel and light, fares and other travel costs. Large upward contributions came from household goods, housing, household services and leisure goods.