Inflation rate up again a bit, a little further above 2% target, driven by, for example, used car sales prices up 4.4% in June alone, which we covered last month.
Base effects, eg comparisons with pandemic price falls a year ago, driving a lot of this…
Base effects, eg comparisons with pandemic price falls a year ago, driving a lot of this…
https://twitter.com/ONS/status/1415190030973292545
used car price surge is also a result of pandemic, eventually. Demand has shot up, because new car production slowed at a time when demand rebounded, forcing people to buy second hand. microchip production was diverted away from new cars to electronics last year during pandemic
Heading for peak of about 3% in coming months, above target, but not as high as after recent crises or as seen now in US.
would trigger a letter of explanation from the Governor to Chancellor, which would say, “these are mainly bottlenecks and arithmetic effects of reopening”
would trigger a letter of explanation from the Governor to Chancellor, which would say, “these are mainly bottlenecks and arithmetic effects of reopening”
*** ONS cites HGV driver shortage driving spike in producer transport costs - below series stable for two decades, ticked upwards late 2016, and in 2021 now surging...
Record high in overall rises of transportation & storage costs in last quarter - up 4.8% on same q last year
Record high in overall rises of transportation & storage costs in last quarter - up 4.8% on same q last year
Used car price rises in the USA - record 10.5% rise in June, following massive rises in previous two months, meaning annual rate is an incredible 45% up on last June... chip shortage effect
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