Inflation leaps to record high

Inflation rises to record highThe Consumer Prices Index (CPI) rose to a record high last month as energy prices rose. CPI rose from 4.5% in August to 5.2% in September, the highest level since September 2008. CPI has never been higher than 5.2% since it’s’ introduction in 1997. The Retail Prices Index (RPI), which is calculated differently and includes mortgage interest payments, rose from 5.2% in August to 5.6%, the highest level since June 1991. Energy costs The Office for National Statistics (ONS) who produce the figures said: “By far ...

Inflation jumps to 8-month high

The Consumer Price Index (CPI) jumped to 3.7% in December from 3.3% in November, at the same time the Retail Price Index (RPI) rose by a more modest 0.1% to 4.8%. CPI includes mortgage interest payments, RPI does not. The rise is more than the Bank of England and most economists were expecting. The Office for National Statistics (ONS) who produce the inflation figures attributed the rise to higher aviation and petrol prices. Increasing food prices also played a significant part in the rise, with food inflation showing the highest ever recorded rise for the month of December. The rise in CPI will ...

Inflation rises again

Inflation is steadily increasing. The rate of inflation is moving upwards. The latest inflation figures show than the Consumer Prices Index (CPI) rose to 3.2% in October. The rise is unexpected as experts had predicted inflation would remain static at 3.1%. According to the Office for National Statistics (ONS), the rise was due to higher fuel prices, although the rise in food prices showed a welcome slow down. Meanwhile, the Retail Prices Index (RPI), which contains a larger share of housing costs, fell slightly to 4.5%, down from 4.6% a month earlier.