UK inflation rate remains negative

Consumer Price Inflation, October 2015: ONS

  • The Consumer Prices Index (CPI) fell by 0.1% in the year to October 2015, the same fall as in the year to September 2015.
  • Upward price pressures for clothing and footwear and a range of recreational goods were offset by downward price pressures for university tuition fees, food, alcohol and tobacco, resulting in no change to the overall rate of inflation.
Advertisements

Negative inflation

Consumer Price Inflation, April 2015: ONS

  • The Consumer Prices Index (CPI) fell by 0.1% in the year to April 2015, compared to no change (0.0%) in the year to March 2015.
  • This is the first time the CPI has fallen over the year since official records began in 1996 and the first time since 1960 based on comparable historic estimates.
  • The largest downward contribution came from transport services – notably air and sea fares, with the timing of Easter this year a likely factor.
  • The Retail Prices Index (not a National Statistic) grew by 0.9% in the year ending April 2015, unchanged from March 2015.

Record Low for UK inflation

Consumer Price Inflation, January 2015

  • The Consumer Prices Index (CPI) grew by 0.3% in the year to January 2015, down from 0.5% in December 2014.
  • Falling prices for motor fuels and food were the main contributors to the slowdown in the rate of inflation.
  • Smaller price falls than a year ago for clothing partially offset the slowdown.

Inflation down to 2%

Consumer Price Inflation, Dec 2013: ONS

  • The Consumer Prices Index (CPI) grew by 2.0% in the year to December 2013, down from 2.1% in November.
  • The largest contributions to the fall in the rate came from prices for food & non-alcoholic beverages and recreational goods & services. These were partially offset by an upward contribution from motor fuels.
  • The overall price increase for gas and electricity in December 2013 was slightly larger than the rises a year earlier resulting in a small upward contribution to inflation.
  • CPIH (includes owner occupiers’ housing costs) grew by 1.9% in the year to December 2013, unchanged from November.
  • RPIJ grew by 2.0%, also unchanged from November. RPIJ is an improved variant of the Retail Prices Index which is calculated using formulae that meet international standards

Shop prices annual deflation

Shop prices annual deflation: BRC

  • Overall shop prices reported annual deflation for the sixth consecutive month in October, deepening to 0.5% from the 0.2% decline reported in September
  • Food inflation slowed to 2.7% in October from 2.9% in September.
  • Non-food reported annual deflation of 2.4% in October from 2.0% in September

Shop price deflation

Shop Price index, June 2013: BRC

  • Overall shop prices reported annual deflation for the second consecutive month in June, falling 0.2% from 0.1% in May
  • Food inflation increased to 2.7% in June from 2.4% in May
  • Non-food reported annual deflation of 1.9% in June from 1.5% in May

UK retail sales values down

Retail Sales Monitor: BRC

  • UK retail sales values were down 2.2% on a like-for-like basis from April 2012, when they had declined 3.3% on the preceding year.
  • On a total basis, sales were down 0.6%, against a 1.0% decline in April 2012.
  • Adjusted for Shop Price Index inflation at 0.4% in April, total retail sales declined 1.0% in real terms while the 3-month average showed growth of 1.6
  • Online sales were up 8.3% compared with April 2012, when they had risen by 9.0%.