Inflation falls to 0.5%

Consumer Price Inflation, December 2014

  • The Consumer Prices Index (CPI) grew by 0.5% in the year to December 2014, down from 1.0% in November.
  • The main contributions to the fall came from the December 2013 gas and electricity price rises falling out of the calculation and the continuing drop in motor fuel prices.
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Inflation falls

Consumer Price Inflation, May 2014: ONS

  • The Consumer Prices Index (CPI) grew by 1.5% in the year to May 2014, down from 1.8% in April.
  • CPIH grew by 1.4% in the year to May 2014, down from 1.6% in April.
  • RPIJ grew by 1.7%, down from 1.8% in Apri

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 fall

Shop price index: BRC

  • Overall shop prices reported deflation for the eighth consecutive month in December, slowing to 0.8% from 0.3% in November.
  • This is the deepest level of deflation since the series began in December 2006.
  • Food inflation slowed to 1.7% from 2.3% in November
  • Non-food reported annual deflation of 2.3% in December from 2.0% in November

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

Euro area annual inflation down

Euro area annual inflation, September 2013: Eurostat

  • Euro area annual inflation is expected to be 1.1% in September 2013, down from 1.3% in August,
  • Food, alcohol & tobacco is expected to have the highest annual rate in September (2.6%, compared with 3.2% in August), followed by services (1.5%, compared with 1.4% in August), non-energy industrial goods (0.3%, compared with 0.4% in August), and energy (-0.9%, compared with -0.3% in August).

Shop price index

Shop price index, August 2013: BRC

  • Overall shop prices reported annual deflation for the fourth consecutive month in August, unchanged from the 0.5% decline reported in July.
  • Food inflation rose to 2.5% in August from 2.2% in July.
  • Non-food reported annual deflation of 2.3% in August from 2.1% in July.