UK CPI inflation jumped from 4.0% to 4.5%, versus expectations of only a slight increase to 4.1%. Core CPI, which strips out food and energy prices, soared from 3.2% to 3.7% and is now at easily a record high (data…
Category Archives: VAT
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An update on the impact of the VAT rises in the UK compared to Australia and Japan
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- VAT
Posted March 28th, 2011
Here’s an update of a slide we produced a year ago following the January 2010 move back to 17.5% VAT from the 15% emergency rate. We were comparing the UK’s retail sales numbers to those in Australia and Japan around…
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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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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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Germany hiked its rate of VAT on the 1st January, from 16% to 19%. Given the size of the German economy, the impact of this will be to raise Eurozone inflation by around 0.3-0.4%. Eurozone inflation is running at 1.9%…
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