Why is UK inflation running at a much higher rate than European inflation? The UK’s CPI is 4.5% compared with 2.7% in Europe. One answer might be food inflation, a major portion of the overall CPI baskets (11% in the…
Category Archives: CPI
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The financial crisis is resulting in the authorities, the public, and investment managers seeing things they did not expect to see. Today’s headline RPI level of 5.5% is a record 5% above the Bank of England base rate of 0.5%,…
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I came across this daily CPI estimate in a Bloomberg article this morning. Called the Billion Prices Project (BPP), it’s run by two MIT academics and aggregates 5 million online prices on a daily basis. Whilst the basket of goods…
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A 1% jump in UK CPI in December meant that the year on year inflation rate in the UK soared from 3.3% to 3.7% year on year, once again beating consensus expectations of 3.4%. No doubt we’ll have the newspapers tomorrow…
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Expectations had been for a big jump going into this morning’s release of December UK inflation statistics, however expectations still weren’t high enough. The year-on-year CPI inflation rate surged from +1.9% to +2.9%, eclipsing the average forecast of 2.6% (economic…
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In under a month’s time, the UK’s emergency VAT reduction from 17.5% to 15% will be reversed. This will not only cause a blip upwards in inflation rates (most of the CPI basket apart from food attracts the tax) but…
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Let’s sit down and discuss your performance Mervyn…
- Topics
- CPI, MPC, quantitative easing
Posted December 1st, 2009
Six years ago this month, Gordon Brown, who was Chancellor of the Exchequer at the time, set the Monetary Policy Committee (MPC) an inflation target of 2.0% for the Consumer Prices Index (CPI). Additionally, if the inflation target is missed…
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Gordon Brown – a bit less keen on an independent Bank of England
- Topics
- Bank of England, CPI, quantitative easing
Posted October 13th, 2009
At a time when the gilt market is desperately interested in the future of Quantitative Easing, the Prime Minister yesterday sent a shot across the bows of the Bank of England’s MPC by saying that ending QE would put the…
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This is a question that numerous clients and members of the press have asked us so I thought it would be worth writing a brief comment here. Focusing on the UK, in yesterday’s budget, chancellor Alistair Darling said that gross…
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The soaring oil price has meant that UK National newspapers and the trade press are rife with stagflation fears. The fears are understandable – following the 1973 oil crisis, UK inflation surged, reaching an all time high of 26.9% by…
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