The Consumer Prices Index (CPI) 12-month rate was 2.5% in July 2018, up from 2.4% in June 2018.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July 2018, unchanged from June 2018.
Rising prices for computer games and transport fares produced the largest upward contributions to change in the 12-month rate between June and July 2018, although computer game prices tend to be highly variable from month to month.
The upward effects were offset by falls in prices for clothing and footwear, and the removal of initial charges for investment in some unit trusts.
Prices for clothing and footwear fell by 0.4% between July 2017 and July 2018, the first time the 12-month rate has been negative since October 2016.
In August 2016, the quantity bought (volume) of retail sales is estimated to have increased by 6.2% compared with August 2015; all store types except textile, clothing and footwear, and household goods showed growth with the main contribution coming from food stores.
The quantity bought decreased by 0.2% compared with July 2016; the largest contribution to the decrease came from non-food stores which was offset by increases in non-store retailing, predominantly food stores and petrol stations.
The underlying pattern in the retail sector is still one of growth with the 3 month on 3 month movement in the quantity bought increasing by 1.6%.
The amount spent (value) in the retail industry increased by 4.1% compared with August 2015 and decreased by 0.5% compared with July 2016.
The amount spent online increased by 18.5% compared with August 2015 and increased by 0.4% compared with July 2016.
Non-seasonally adjusted average store prices (including petrol stations) fell by 1.9% in August 2016 compared with August 2015.
Federation of Small Businesses’ (FSB) data used in a BBC report shows the UK’s high streets have seen a dramatic number of women starting-up businesses than at any previous time
Half (49.5%) of small firms established in the past two years in retail, or hotels, catering and leisure are owned primarily by women
This is in stark contrast to high street businesses started more than 20 years ago. When the FSB last surveyed its members it found that only a quarter (24%) of these businesses were primarily female owned
UK business optimism reached its highest level for 22 years in January, indicating that the economy will continue to grow rapidly over the coming six months
The Optimism Index, which predicts business performance two quarters ahead, reached 103.8 in January, up from 103.4 in December. This is the highest reading ever recorded since readings began 22 years ago and sits well above the 100.0 mark, meaning the UK is expected to outperform its long-term historical growth trend
The Employment Index rose to 101.3, up from 99.4 the previous month. The index now stands at its highest level since August 2008 and above the crucial 100.0 mark for the first time since March 2011, signalling that UK job creation is likely to exceed trend growth over the coming months
The Inflation Index read 97.9 in January, its lowest level since November 2009 and down from 98.7 at the end of last year.