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compRGHension
inPLflTion Risesinm dp brghit uotg
The annual rate of CPI hit 0.6 per cent in July, up from 0.5 per cent
in June and analysts predict further increases due to Brexit
The Independent. August 16th 2016. Ben Chu Economies Editor
1 Consumer price inflation picked up in the wake of the UïCs Brexit
vote, hitting its highest rate since November 2014.
2 The Office for National Statistics said the annual rate of CPI hit 0.6
per cent, up from 0.5 per cent in June and higher than City of London
analysts had been expecting.
3 A separate ONS measure of "factory gâte" inflation rose at an annual
rate of 0.3 per cent in July, the biggest increase since June 2014, and
breaking two years of déclinés.
4 This suggests that the record fall in sterling in the wake of the 23 June
référendum vote is beginning to push up the import costs of domestic
manufacturers, which should eventually feed through into higher
consumer prices.
5 Samuel Tombs of Panthéon said he expected the consumer price
inflation rate to hit 3 per cent next year, above the Bank of England's
officiai 2 per cent target.
6 "Inflation's pick-up... will gain strong momentum in 2017, when
sterling's dépréciation will boost core goods inflation" he said.
7 "Labour market weakness might constrain wage growth soon, but
with productivity also likely to fall sharply as the economy slows,
v firms' cost pressures will remain intense".
compRGHension
inPLflTion Risesinm dp brghit uotg
The annual rate of CPI hit 0.6 per cent in July, up from 0.5 per cent
in June and analysts predict further increases due to Brexit
The Independent. August 16th 2016. Ben Chu Economies Editor
1 Consumer price inflation picked up in the wake of the UïCs Brexit
vote, hitting its highest rate since November 2014.
2 The Office for National Statistics said the annual rate of CPI hit 0.6
per cent, up from 0.5 per cent in June and higher than City of London
analysts had been expecting.
3 A separate ONS measure of "factory gâte" inflation rose at an annual
rate of 0.3 per cent in July, the biggest increase since June 2014, and
breaking two years of déclinés.
4 This suggests that the record fall in sterling in the wake of the 23 June
référendum vote is beginning to push up the import costs of domestic
manufacturers, which should eventually feed through into higher
consumer prices.
5 Samuel Tombs of Panthéon said he expected the consumer price
inflation rate to hit 3 per cent next year, above the Bank of England's
officiai 2 per cent target.
6 "Inflation's pick-up... will gain strong momentum in 2017, when
sterling's dépréciation will boost core goods inflation" he said.
7 "Labour market weakness might constrain wage growth soon, but
with productivity also likely to fall sharply as the economy slows,
v firms' cost pressures will remain intense".