Mark Carney says deflation is possible and wouldn’t be a problem, refuses to be tied to date for interest rate hike January 13, 2015 Mark Carney has tonight refused to rule out the UK entering deflation after figures from the Office for National Statistics revealed the Consumer Price Index slowed to just 0.5 per cent in December. Speaking to ITV, the governor of the Bank of England said that deflation was possible “in a given month on a year-on-year [...]
UK Inflation: Walkmans, videos and rollerblades – this is what the basket of goods looked like last time inflation was this low January 13, 2015 The last time inflation was this low, shoppers were still buying Walkmans, recording their favourite TV shows using a VHS recorder – and rollerblades were A Thing. Prices rose just 0.5 per cent in December, the latest ONS figures reveal, the slowest rise since records began in 1989, and on a par with May 2000’s [...]
UK inflation: Consumer price index falls to 0.5 per cent in December January 13, 2015 Crumbling energy and petrol prices dragged the rate of inflation to a joint low since records began in 1989, forcing Bank of England (BoE) governor Mark Carney to write an open letter to the chancellor explaining the fall. The consumer prices index (CPI) rose just 0.5 per cent in the year to November, the Office [...]
Mark Carney set to write inflation letter next month January 12, 2015 INFLATION is expected to have dropped too far below the Bank of England’s target, prompting an embarrassing letter from Mark Carney to George Osborne to explain what went wrong. But instead of sending the letter the moment the inflation data is published – at 9.30am this morning – the governor of the Bank will now [...]
Businesses get 2015 confidence boost from tumbling inflation January 11, 2015 BUSINESSES expect a solid start to 2015, according to new survey data. The BDO optimism index released today by the eponymous accountants rose to 104.9 in December from 103.9 in November. The long-term average is signified by 100. The output index remained steady at 103.3 in December from November’s 103.2. The inflation index edged down [...]
Inflation falling after price wars over Christmas – London week ahead January 11, 2015 CONSUMER price inflation figures for December, due out tomorrow, will shine a light on to what extent falling oil prices and intense retail competition have boosted spending power in the UK. Analysts says the fall in inflation is likely to have been tempered by the fact that there was more retail discounting than usual in [...]
Rising wages and falling inflation boost workers December 17, 2014 Wages continued to beat inflation in the year to October, official figures revealed yesterday. Regular pay (excluding bonuses) was 1.6 per cent higher in the three months to October than the same period a year ago, according to the Office for National Statistics. Inflation as measured by annual growth in the consumer price index was [...]
Inflation set to fall further after reaching 12-year low December 16, 2014 INFLATION in the UK has dropped to its lowest figure for over a decade and economists believe it will decline further still. Inflation fell to one per cent in November as measured by annual growth in the consumer price index, according to figures released yesterday by the Office for National Statistics (ONS). It marks a [...]
As consumer price rises fall to 1 per cent, is subdued inflation a new normal for the UK? December 16, 2014 Samuel Tombs, UK economist at Capital Economics, says Yes. Low inflation is unlikely to be just for Christmas. A combination of lower commodity and import prices, alongside stable energy bills, should mean that consumer price inflation falls to comfortably below 1 per cent in the coming months. And while the impact of these factors is [...]
UK inflation falls to lowest rate since 2002 thanks to plumetting oil prices December 16, 2014 UK inflation fell to its lowest rate since 2002 in November after petrol costs were cut due to plummeting oil prices. The rate of consumer price growth fell to one per cent last month, the lowest rate for 12 years and down from a 1.3 per cent rate in October. Any hopes investors [...]