In June, consumer prices fell 0.1% over the previous month, contrasting the 0.2% increase in May. Most of the downward pressure on inflation came from falling prices in the recreation and culture category (-0.9% mom) due to discounts on some products. As a result, annual headline inflation eased from 4.5% in May to 4.2% in June, which was below market analysts' expectations of a 4.5% increase. That said, the decline in the inflation rate is expected to be temporary, as gas and electricity provider, British Gas, announced that utility bills are to rise by an average of 17% effective 18 August, which is likely to translate into higher inflation readings in August and September. According to its Inflation Report from May, the Bank of England projects inflation to average 4.7% this year and to moderate to 3.0% in 2012.
United Kingdom Inflation
Inflation moderates in June
July 12, 2011
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United Kingdom Economic News
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.
September 30, 2016
In September, home prices in the United Kingdom rose 0.3% over the previous month, which was below the 0.6% increase seen in August that had marked the highest reading in five months, according to the Nationwide Building Society (NBS).