Headline rate of inflation for UK soars to 5.1% in November up from 4.2% the month before, highest rate for over a decade. It’s over two and. Half times above the Bank of England’s target of 2%.
Driven by record petrol prices, used cars, clothes and food
Driven by record petrol prices, used cars, clothes and food
13 year high on the ONS’ preferred CPIH measure which includes some account of prices for owner occupied housing..
Used car prices - pandemic effect from microprocessor shortages reducing supply of new cars, deflecting demand to used cars, at the same time facing a pool of forces saving from buyers….
This should turnaround at some point, when fields full of chip less cars are chipped
This should turnaround at some point, when fields full of chip less cars are chipped
Retail Prices Index, no longer an official statistic but still relevant for some purposes is now… 7.1%
Retail Prices Index at 7.1% is at the highest annual growth rate for 3 decades, since March 1991, during the first Gulf War.
If RPI stays at these levels till March as expected - in theory student loans repayment rate rockets to over 10%.
RPI also sets baseline increase for vehicle excise duty, many mobile phone contracts, air passenger duty, some final salary pensions and some government borrowing
RPI also sets baseline increase for vehicle excise duty, many mobile phone contracts, air passenger duty, some final salary pensions and some government borrowing
CPI vs RPI over thirty years
This is very interesting coming today and before tomorrow - unions flexing muscles re strike action now at Tesco distribution depots having rejected 4% pay offer, Unite and now Usdaw getting above inflation wage increase of 6% usdaw.org.uk/About-Us/News/…
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