Inflation sees surprise fall to 6.7%

The UK’s headline rate of inflation has nudged down, helped by an easing of food and accommodation prices. UK CPI inflation was reported at 6.7% for August, compared to the 6.8% recorded in July and consensus expectations of an uptick to 7.0%. The ONS data shows an even greater drop in the core inflation reading: annual core CPI (excluding food, …

Inflation falls by 1.1% to 6.8%

Core inflation remained unchanged between June and July. CPI inflation rose by 6.8% in the 12 months to July, down from 7.9% in June, the latest ONS figures reveal. On a monthly basis, CPI fell by 0.4% in July, compared with a rise of 0.6% in July 2022. CPIH inflation, which includes owner occupiers’ housing costs, saw an annual rise …

State pension likely to rise 8.2% to almost £11,500 ahead of election

Another bumper increase in the state pension could follow 10.1% hike last April Wage inflation was 8.2 per cent in May-July in official data released today The full rate state pension could top £220 a week if earnings growth sticks at its current 8.2 per cent, as pundits reckon the Government is highly unlikely to break the triple lock pledge …

Inflation falls to 7.9% in June

The core rate of inflation fell by 0.2% to 6.9%. Annual CPI inflation has fallen from 8.7% in April and May to a lower-than-expected 7.9% in June, the latest ONS figures show.  Most economists had predicted a fall in inflation, with an average forecast of 8.2%, according to Reuters.  On a monthly basis, CPI rose by 0.1% in June, compared …

UK inflation holds at 8.7% after two months of falls

Core CPI rose by 7.1% in the 12 months to May, up from 6.8% in April, and the highest rate since March 1992. CPI inflation was unchanged at 8.7% in May, despite two consecutive months of declining and an expected fall to 8.4%, renewing predictions of a 0.5% Base Rate hike at tomorrow’s MPC meeting. The latest ONS statistics show …

UK inflation falls to 8.7%

UK inflation has fallen to single digits for the first time this year according to the latest figures released by the Office for National Statistics, easing to 8.7% in April. CPI inflation rose by 8.7% in the 12 months to April 2023, down from 10.1% in March according to this morning’s figures. On a monthly basis, CPI rose by 1.2% …