Tuesday, Nov 14, 2006

Mmmmmm...check out the RPI though!

BBC: UK inflation stays steady at 2.4%

UK inflation was unchanged in October and above the official target of 2% again despite two rate rises this year.
Last month's Consumer Price Index (CPI) figure was 2.4%, the Office for National Statistics (ONS) said.

Many economists had been expecting a rise to 2.6% because of the introduction of more expensive university tuition fees in October.

The RPI rate, which includes mortgage payments rose from 3.6% to 3.7% - the highest level in more than eight years.

'University tuition fees had less impact on inflation than expected'.......Once they had fiddled with the weighting!!!

Posted by tyrellcorporation @ 10:18 AM (410 views)
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9 Comments

1. kpjcomp said...

Just out of curiosity, why would the tuition fees be expected to have an effect in October anyway?
I'm not sure how it all works, but I would have expected these fee's to have been paid earlier, especially when people knew in advance of the rise. So would'nt next January be more likely to see the effect?
Interesting to see the RPI running away, but that's OK because the CPI that even Merv really likes, is only 2.4%.

I like how the BBC got this bit in->
>> The data suggests that the Bank of England's Monetary Policy Committee is likely to hold back on introducing any further interest rate rises in the near future.
Like everyone says here, I thought the BBC was meant to report the news, not make judgement on it.
Make's me giggle, because then they say -> "However, many analysts are expecting further rates increases next year."

It's a real shame about the BBC over the years, especially after the Hutton Inquiry. And somehow the goverment has got away with it. Whever your a Bull or a Bear of this country, having the goverment controlling the BBC is rather scary..

Tuesday, November 14, 2006 10:59AM Report Comment
 

2. Surfgatinho said...

So what they are saying is "Hurrah, inflation may still have been unaffected by the recent IR rise and running 20% above the desired level but it's not as bad as expected - so everything's OK!"

Tuesday, November 14, 2006 11:18AM Report Comment
 

3. Sam said...

isn't also down to the fact we've had a mild autumn and fuel prices have dipped a bit?

I think it's going to be an intresting christmas, with people spending less on credit cards, and recently people actually paying personal debts off -- this sqeeze will come from somewhere. - or perhaps they spent sept paying it off, inorder to spend it again on dec.

Tuesday, November 14, 2006 12:11PM Report Comment
 

4. The Haunted said...

If actual inflation is at 2.4 percent I will devour my own head. All I know is I had an 'above inflation' pay rise and yet I am worse off. Gas, electric, petrol, tax, tax, tax and insurance, the list is endless. And all of this without taking into account house prices. Jokers.

Tuesday, November 14, 2006 01:36PM Report Comment
 

5. paul said...

It's still above the 2.0% target, and the trend is upwards.

http://www.statistics.gov.uk/cci/nugget.asp?id=19

Tuesday, November 14, 2006 03:39PM Report Comment
 

6. inbreda said...

Oil dips and has an effect??????? Odd considering that massive increases had no effect.

And yes - the Hutton inquiry was the beginning of the end for the BBC.

Tuesday, November 14, 2006 04:13PM Report Comment
 

7. Boarder said...

First I'd ask about the Balen Report into the BBC if I were you.

Tuesday, November 14, 2006 05:13PM Report Comment
 

8. Nohpc said...

The RPI is up because interest rates are up affecting mortgage repayments. Slashing interest rated to 0% may actually bring the RPI down as mortgage payments would shrink so much

Tuesday, November 14, 2006 10:08PM Report Comment
 

9. C'mon Correction said...

Nohpc - did u suggest that by slashing base rate to 0%, then RPI will fall??? I think you u need to educate yourself and have a re-think !

Wednesday, November 15, 2006 05:06PM Report Comment
 

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