Menu
13/12/2011
UK Inflation Rate 'Highest In EU' Despite Fall
Although the UK's inflation rate dropped slightly in November it is now the highest in the EU, according to the Labour party.
Tuesday's figures from the Office for National Statistics (ONS) on the rate of Consumer Prices Index (CPI) inflation in the UK fell to 4.8% during November, down from 5% the month before.
The rate is well in excess of the Bank of England's target of 2% and over a percentage point higher than other financially troubled EU countries such as Italy, Spain, Greece and Ireland.
Owen Smith, Labour's Shadow Treasury Minister, said that Britain now had the highest inflation of any EU country and it was time Ministers "took responsibility".
"We need action now to help hard-pressed families and pensioners who have been hit hard by the Tory VAT rise and this out of touch Government’s failure to act on soaring energy prices.
"A temporary cut in VAT, part of Labour’s five point plan for jobs, would ease the squeeze on families, boost our struggling high streets and help to kick-start our flatlining economy. It would cut petrol prices by 3p a litre and give a couple with children an average boost of £450 a year.
According to the ONS, the fall was partly due to a slowdown in the rise in food and non-alcoholic drink prices. Cereals and bread prices fell by 1% in the month, compared with a 1.9% increase a year ago.
(DW)
Tuesday's figures from the Office for National Statistics (ONS) on the rate of Consumer Prices Index (CPI) inflation in the UK fell to 4.8% during November, down from 5% the month before.
The rate is well in excess of the Bank of England's target of 2% and over a percentage point higher than other financially troubled EU countries such as Italy, Spain, Greece and Ireland.
Owen Smith, Labour's Shadow Treasury Minister, said that Britain now had the highest inflation of any EU country and it was time Ministers "took responsibility".
"We need action now to help hard-pressed families and pensioners who have been hit hard by the Tory VAT rise and this out of touch Government’s failure to act on soaring energy prices.
"A temporary cut in VAT, part of Labour’s five point plan for jobs, would ease the squeeze on families, boost our struggling high streets and help to kick-start our flatlining economy. It would cut petrol prices by 3p a litre and give a couple with children an average boost of £450 a year.
According to the ONS, the fall was partly due to a slowdown in the rise in food and non-alcoholic drink prices. Cereals and bread prices fell by 1% in the month, compared with a 1.9% increase a year ago.
(DW)
Related UK National News Stories
Click here for the latest headlines.
20 April 2004
UK inflation rate falls to 1.1%
The latest figures on UK inflation has revealed a surprise fall taking the rate to 1.1%. The Consumer Price Index had been expected to show a slight rise, but today's figures showed a dip of 0.2% on the February figure of 1.3%.
UK inflation rate falls to 1.1%
The latest figures on UK inflation has revealed a surprise fall taking the rate to 1.1%. The Consumer Price Index had been expected to show a slight rise, but today's figures showed a dip of 0.2% on the February figure of 1.3%.
17 December 2013
ONS Report Four-Year-Low For CPI Inflation Rate
The Office for National Statistics (ONS) reported that in November the UK's inflation rate, as measured by the consumer prices index, has fallen to a four year low of 2.1%. The fall, down from 2.2% in October, has been credited to slower increases in food and energy prices, the ONS has said.
ONS Report Four-Year-Low For CPI Inflation Rate
The Office for National Statistics (ONS) reported that in November the UK's inflation rate, as measured by the consumer prices index, has fallen to a four year low of 2.1%. The fall, down from 2.2% in October, has been credited to slower increases in food and energy prices, the ONS has said.
14 December 2011
UK Unemployment Up By 128k Since October
The UK's unemployment rate has risen by 128,000 in the three months to October, reaching 2.64 million, according to the Office for National Statistics (ONS). Reaching a 16-year high, the jobless rate was 8.3%, up from 7.9% in the last quarter of the year. Meanwhile, youth unemployment rose to 1.
UK Unemployment Up By 128k Since October
The UK's unemployment rate has risen by 128,000 in the three months to October, reaching 2.64 million, according to the Office for National Statistics (ONS). Reaching a 16-year high, the jobless rate was 8.3%, up from 7.9% in the last quarter of the year. Meanwhile, youth unemployment rose to 1.
02 October 2008
House Prices Fall By 1.7%
UK house prices dropped by 1.7% in September leaving the average property costing £161,797 according to figures by the Nationwide Building Society. Overall house prices have fallen 12.4% in a year, however Nationwide said prices will continue to drop in short term but longer prospects are more sound.
House Prices Fall By 1.7%
UK house prices dropped by 1.7% in September leaving the average property costing £161,797 according to figures by the Nationwide Building Society. Overall house prices have fallen 12.4% in a year, however Nationwide said prices will continue to drop in short term but longer prospects are more sound.
12 October 2010
UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
