Tag: Consumer Prices Index

Inflation rises unexpectedly in March

Inflation rises unexpectedly in March

Higher food and clothing prices helped to push inflation up slightly to 3.5 per cent in March, from 3.4 per cent in February. The rise in inflation on the Consumer Prices Index (CPI) was unexpected and represents a break in a downward trend which started in September. It is a setback to the Bank of [...]

April 17, 2012 | 0 Comments More
Tesco raises pension age to 67

Tesco raises pension age to 67

Supermarket retailer Tesco has increased its pension age by two years to 67 for the 170,000 employees who contribute to the company’s scheme. Tesco employees will still be able to retire from the age of 55 at a reduced pension rate, but they will only receive a full pension if they work until 67. The [...]

March 14, 2012 | 0 Comments More
Inflation falls to 4.2%

Inflation falls to 4.2%

The rate of Consumer Prices Index (CPI) inflation fell to 4.2 per cent in December, from 4.8 per cent in November, according to the latest figures from the Office for National Statistics (ONS). This is the third consecutive month that inflation has fallen and December’s figures represents the biggest monthly fall since April 2009. Inflation [...]

January 17, 2012 | 0 Comments More
Inflation on downward trend

Inflation on downward trend

The Consumer Prices Index (CPI) rate of inflation fell to 4.8 per cent in November it was revealed yesterday, representing the second consecutive 0.2 percentage point monthly decline. Although the price of domestic heating and alcohol increased during the month, this was offset by a fall in the cost of food, petrol, clothing, furniture and [...]

December 14, 2011 | 0 Comments More
Courts rule government’s pension switch lawful

Courts rule government’s pension switch lawful

The High Court has decided that the government’s decision to use the Consumer Prices Index (CPI) to inflation-proof public sector pensions, rather than the traditionally-used Retail Prices Index (RPI), was lawful. The legal challenge to the change, which came into force in April, was launched by Trade unions who claimed that the change was made [...]

December 2, 2011 | 0 Comments More
Linking pensions to CPI costly for workers

Linking pensions to CPI costly for workers

Last year’s decision to tie public sector pensions to the consumer prices index (CPI) rather than the retail prices index (RPI) will result in pay-outs being reduced by over 17 per cent over 15 years, according to the TUC. In 2010 the government decided that pensions would rise in line with the CPI, which increases [...]

December 1, 2011 | 0 Comments More
UK inflation up again to 3.4%

UK inflation up again to 3.4%

The UK’s official rate of inflation rose to 3.4% in March, up from 3% in February and again exceeding the Government’s target of 2%. The rate, which is based on the Consumer Prices Index (CPI) and therefore excludes housing costs, was on the wrong side of expectations as it nudged towards the 14-month high of [...]

April 20, 2010 | 0 Comments More
UK inflation rate falls in September to 1.1%

UK inflation rate falls in September to 1.1%

The Consumer Prices Index (CPI), a key measure of inflation, has fallen from 1.6% to an annual 1.1% in August - the lowest level since September 2004, the Office for National Statistics (ONS) said today. While the decline in inflation was higher than analysts had expected, it was primarily due to lower food and energy [...]

October 13, 2009 | 0 Comments More
UK inflation figures due today with further fall expected

UK inflation figures due today with further fall expected

The Office for National Statistics (ONS) is due to release the latest UK inflation figures today with analysts expecting a decline, albeit the rapid falls seen of late are expected to ease. Last month, the ONS revealed that the Consumer Prices Index (CPI), a key measure of inflation, had fallen to an annual rate of [...]

August 18, 2009 | 0 Comments More
UK inflation dips below BoE target of 2%

UK inflation dips below BoE target of 2%

The Consumer Prices Index (CPI), a key measure of inflation, has dipped below the Bank of England’s target of 2%. The Office for National Statistics (ONS) has revealed that the CPI fell to an annual rate of 1.8% in June from 2.2% the previous month. The CPI hit 5.2% in September last year (a 16-year [...]

July 14, 2009 | 0 Comments More
UK inflation continues to fall

UK inflation continues to fall

The Office for National Statistics has announced today that the Consumer Prices Index (CPI), fell to 2.3% in April from 2.9% in March. The fall in CPI was much deeper than had been expected by economists as consumer demand continues to weaken amid the economic downturn. In the meantime Retail Price Index (RPI), which includes [...]

May 19, 2009 | 1 Comment More