Inflation In Sharp Rise To 1.9% In June / Hpi 10.5%

[interestrateripoff]

http://www.bbc.co.uk/news/business-28308837

The rate of UK inflation rose sharply in June, pushed up by higher clothing and footwear, and food and non-alcoholic drinks prices, official figures show.

The Consumer Prices Index rose to 1.9%, up from 1.5% in May, according to the Office for National Statistics.

Women's clothing prices contributed heavily to the rise.

Air fares and furniture prices also pushed the inflation rate up, the ONS said.

The rate is now close to the Bank of England's 2% target.

It has remained below the target for seven consecutive months.

http://www.bbc.co.uk/news/business-28296536

Annual house price inflation hit 10.5% in May, the highest rate for four years, according to the Office for National Statistics (ONS).

That is up from 9.9% in the previous month.

Once again, the market was in large part driven by London, where house prices rose by a record 20.1% over the year.

But excluding London and the South East, prices rose by a much more modest 6.4% across the UK.

Prices were up in every region, except for Northern Ireland, where they fell by 0.7%.

Great news for the alter of exponential price rises. Everything is going up in price the economy is working.

[thehowler]

And earnings inflation expected to drop further - stats soon, today or tomorrow, I think.

[Wurzel Of Highbridge]

As Cameron - leader of the nasty party would say.

"Our economic plan is working"

http://www.telegraph.co.uk/finance/budget/10499172/Autumn-Statement-2013-Our-economic-plan-is-working-says-George-Osborne.html

[long time lurking]

$1.70-£1.00 what happens when it`s time to talk it down again ?

[“Nasty Piece of work”]

If they are salting the earth, to pass on a sh1t sandwich, they are doing a very thorough job. The only problem is keeping the wheels on to May 2015. If they are trying to run an economy, we can all kiss our arses goodbye now.

[frederico]

Well yes

[shindigger]

Cough/train fares/cough.

Look at last July.

That's the month they set the increases for Jan.

And we're headed straight back up to that figure for next month, followed by a plummet in August.

Edited July 15, 2014 by shindigger

[Wurzel Of Highbridge]

Quite a surprising rise in prices given the strength of the pound.

If they're planning on doing a 2008, ramping the pound so they can devalue it again then there will be a very long queue for the food banks this time.

[wherebee]

Quite a surprising rise in prices given the strength of the pound.

If they're planning on doing a 2008, ramping the pound so they can devalue it again then there will be a very long queue for the food banks this time.

I'm moving what remains of my UK money out of GBP for two reasons - one, I don't want to support the Nationwide as it stopped being true to it's mutual roots, and two because I can't see any way out from here that does not involve a GBP collapse.

[long time lurking]

Whats the best way /bank to open a $ account whilst living in the Uk ? my fixed rate ISA`s have all come to an end in the last couple of months

[Wurzel Of Highbridge]

I suspect that you couldn't go far wrong transferring a large portion of your fiat into paper silver.

[Liquid Goldfish]

As Cameron - leader of the nasty party would say.

"Our economic plan is working"

http://www.telegraph.co.uk/finance/budget/10499172/Autumn-Statement-2013-Our-economic-plan-is-working-says-George-Osborne.html

Long term economic plan

[wherebee]

I suspect that you couldn't go far wrong transferring a large portion of your fiat into paper silver.

Or Isle of Man accounts. Never used them myself, but know of plenty that have from mainland UK.

[durhamborn]

Furniture?

Funny that because iv just had a container land this week from China and the unit cost has worked out the lowest its been for 6 years.

The goods in China 17% cheaper.

Shipping the 40 High Cube container £1633 (Ningbo to Felixstowe) ,the last 20 foot one i had in March was £1530 so in affect i shipped 120% more for the same price.$-£ really helping

The transport over here is the same price.

VAT 17% lower due to the goods costing 17% less in China.

All in the goods are 18% cheaper than they were in 2008-9 and my costs over here slightly higher (4%) over that time.

That $/£ really is crucial.The goods,shipping, etc are priced in $,the VAT/Import duty etc goes up and down as well due to cost in China based on $/£.

It was nasty back in 09-10 but the sun is shining now.Im tempted pre buy some $ for next year as well.

[The Masked Tulip]

Or Isle of Man accounts. Never used them myself, but know of plenty that have from mainland UK.

Didn't people lose money in Isle of Man accounts in the 2008 crash because the banks there were not covered by the UK bank guarantee? Anyone remember?

[crashmonitor]

Very surprising, might bring forward interest rate rises if this continues.

Normally inflation falls during the June sales. Last year 126.1 to 125.9, this year 128.0 to 128.3.......128.3/125.9 = 1.9%.

I really would like a simple table of the last 13 months for RPI and CPI on the ONS front page.......a bit like HPI bulletins from Haliwide to see what is happening. No chance with ONS who keep their tables buried and you have to work out how to get to them to cut to the chase.

Edited July 15, 2014 by crashmonitor

[R K]

Women's clothing prices contributed heavily to the rise.

Peak Primark

[Killer Bunny]

£ at pivotal point v US$.

1.70/72 is level either at which £ then falls sharply or breaks up to c $2.

[19 year mortgage 8itch]

Very surprising, might bring forward interest rate rises if this continues.

Normally inflation falls during the June sales. Last year 126.1 to 125.9, this year 128.0 to 128.3.......128.3/125.9 = 1.9%.

I really would like a simple table of the last 13 months for RPI and CPI on the ONS front page.......a bit like HPI bulletins from Haliwide to see what is happening. No chance with ONS who keep their tables buried and you have to work out how to get to them to cut to the chase.

Try

http://www3.hants.gov.uk/finance/retailpricesindexandconsumerpriceindex.htm

[Sour Mash]

http://www.bbc.co.uk/news/business-28308837

http://www.bbc.co.uk/news/business-28296536

Great news for the alter of exponential price rises. Everything is going up in price the economy is working.

What a shocker, eh?

[Sour Mash]

And earnings inflation expected to drop further - stats soon, today or tomorrow, I think.

Don't worry - apparently you can use your house like an ATM.

[R K]

Very surprising, might bring forward interest rate rises if this continues.

Normally inflation falls during the June sales. Last year 126.1 to 125.9, this year 128.0 to 128.3.......128.3/125.9 = 1.9%.

I really would like a simple table of the last 13 months for RPI and CPI on the ONS front page.......a bit like HPI bulletins from Haliwide to see what is happening. No chance with ONS who keep their tables buried and you have to work out how to get to them to cut to the chase.

http://www.ons.gov.uk/ons/site-information/using-the-website/time-series/index.html#2

Click on 'inflation'

Select CPI, CPIH or RPI series and simply click on the blue button for a chart or the CSV button for the data file.

[rantnrave]

Re Isle of Man accounts - I understand that by default they don't take a tax cut for the UK coffers and that therefore only British expats can use them. I had an IoM savings accounts with Natwest IoM branch when I lived in Europe,

[Democorruptcy]

Re foreign bank accounts there is a page here with compensation limits per country

It's dated 2012 so DYOR and praying if one collapses, etc.

http://moneyfacts.co.uk/guides/savings/depositor-protection-schemes-if-a-bank-goes-bust180112/

[1929crash]

Didn't people lose money in Isle of Man accounts in the 2008 crash because the banks there were not covered by the UK bank guarantee? Anyone remember?

I don't recall - but the isle of Man banks are regarded as vital by the Westminster government, so some help must have been forthcoming.