Inflation has hit the Bank of England’s (BoE) target for the first time in almost three years. Prices rose at two per cent in the year to May, down from 2.3 per cent the month before, according to the Office for National Statistics (ONS)/ The figures follow a sustained period of high inflation in the…
Read more
The Office for National Statistics (ONS) has published its latest Consumer Prices Index, which shows that the rate of inflation fell to 2.3 percent in the 12 months to April 2024, down from 3.2 per cent in March. Prices were up 0.3% in a month (compared to 1.2% a year earlier). CPI is the…
Read more
Latest ONS data has found that inflation came in at 2.3% in April, lower than the 3.2% reported in March. The rate is at its lowest in two and a half years, and down from the peak at 11.1% in October last year. Commenting on the inflation data for April, ONS Chief Economist Grant Fitzner…
Read more
Latest analysis by the British Retail Consortium has found that shop Price annual inflation eased to 0.8% in April, down from 1.3% in March. This is below the 3-month average rate of 1.4%. Shop price annual growth is its lowest since December 2021. Non-Food entered deflation at -0.6% in April, down from 0.2% in the…
Read more
Latest data from the ONS has found that CPI inflation fell to 3.2 per cent in March, lower than the 3.4% reported in February. Commenting on the data, Steve Vaid, Chief Executive of the Money Advice Trust, the charity that runs National Debtline, said “Falling inflation is welcome news and will provide some relief for…
Read more
Latest ONS data has found that inflation came in at 3.2% in March, slightly less of a drop than economists had forecast. The rate is at it’s the lowest in two and a half years, and well down from the peak at 11.1% in October last year. The biggest factor pushing inflation down was food,…
Read more
Latest ONS data has found that inflation came in at 3.4% in February, well below the 4.0% reported in January. Economists had forecast a drop to 3.5%. The figures also showed that food inflation has fallen for the 11th consecutive month. Prices were up 0.6% in a month (compared to 1.1% a year earlier). Inflation…
Read more
Latest data from the ONS has found that CPI inflation fell to 3.4 per cent in February, confirming the fastest 12-month fall in inflation since 1978 and bringing inflation to its lowest level since September 2021 Commenting on the inflation figures for February, David Cheadle, Chief Operating Officer at National Debtline, said “This fall in…
Read more
Latest ONS data has found that inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Month-on-month, the headline consumer price index fell to -0.6%, returning to negative territory after December’s surprise increase by 0.4% on the month and 4% annually. Economists…
Read more
Latest data from the ONS showed annualised inflation remained at 4% in January, unchanged from December. Economists had predicted a small rise, however prices were down 0.6% in a month. The numbers are a long way from the peak at 11.1% in October last year, Commenting on the data Sarah Coles, Head of Personal Finance at…
Read more
Two thirds of London businesses are concerned that inflation and high interest rates will dampen economic activity in the first half of 2024, according to a quarterly survey from the London Chambers of Commerce and Industry (LCCI). The survey also shows that a majority of those polled saw fuel and energy costs increase in Q4…
Read more
Latest data from the Office of National Statistics, that showed the annual rate of CPI inflation increased from 3.9% in November to 4.0% in December 2023. Commenting on the inflation figures ONS Chief Economist Grant Fitzner said “The rate of inflation ticked up a little in December, with rises in tobacco prices due to recently…
Read more
Latest Office for National Statistics (ONS) data showed that inflation increased to 4% in December up from to 3.9% in November. The rise in inflation is attributed to tobacco and alcohol prices increasing. These prices were up 12.9% in December compared to the month before, with tobacco prices rising due to recent tax hikes on…
Read more