Inflation down to 2.7% as rise in cost of petrol and clothing eases
Petrol prices rose 2p per litre compared to a rise of 3.5p per litre in the same month last year
Tuesday 17 September 2013
The UK’s recent growth spurt is not coming at the expense of higher inflation so far, as the Bank of England’s benchmark of the cost of living eased to 2.7 per cent in August, official figures showed today.
The fall in the Consumer Price Index to the lowest level since April was largely driven by lower price rises at the petrol pump than a year ago, and smaller increases in clothing costs. Economists said retailers may have struggled to shift autumn ranges amid much better weather.
BNP Paribas economist David Tinsley called the numbers “benign”, adding that the Bank’s inflation “knock-out” under its forward guidance regime was under little threat. Core inflation –stripping out volatile energy and food prices – is now at 2 per cent, the lowest since 2009.
“In time the UK recovery, if the better growth continues, may be expected to see some firming in inflationary pressure. But that is some way off,” Tinsley said.
And why are 'southern' ways of speaking spreading north?
Rapper Ja Rule forced to deny leaving his wife for prison cell mate
Ten best places to live in the UK: Solihull comes top
Mysterious glowing ‘alien-like creature’ spotted in waters of Bristol Harbour. A jellyfish - or something fishy?
From 'terrorist' to tea with the Queen
Nelson Mandela death: his life in pictures
- 1 Cameron's freebie to apartheid South Africa
- 2 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 3 A forgotten episode in Russian history leaves links with the Philippines
- 4 Video: Students 'punched and dragged to the ground by their hair' as police break up demonstration
- 5 Cannabis can cause man boobs, US surgeon claims
iJobs Money & Business
£50000 - £65000 per annum + benefits + bonus: Harrington Starr: Market Data SM...
£50000 - £70000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£70000 - £85000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£75000 - £85000 per annum + Bonus and Benefits: Harrington Starr: An award win...