UK CPI increased to 2.7%

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Tuesday, Sep 12 2017

UK CPI increased to 2.7%

The Consumer Prices Index including owner occupiers’ housing costs 12-month inflation rate was 2.7% in August 2017, up from 2.6% in July 2017. Rising prices for clothing and motor fuels were the main contributors to the increase in the rate between July and August 2017. Air fares also rose between July and August but the rise was smaller than between the same two months a year ago and so resulted in a partially offsetting, downward contribution. The Consumer Prices Index (CPI) 12-month rate was 2.9% in August 2017, up from 2.6% in July 2017.

The annual rate of inflation for goods leaving the factory gate increased for the first time in 6 months in August 2017. Factory gate prices (output prices) rose 3.4% on the year to August 2017, up from 3.2% in July 2017, with the change in the rate being driven mainly by petroleum products. Prices for materials and fuels (input prices) rose 7.6% on the year to August 2017, up from 6.2% in July 2017, with the change in the rate being driven mainly by crude oil. Recent rises to input costs may have now passed through industries that represent core inflation, although energy and food prices have grown in recent months.

More in this category: « Higher costs are weighing on business confidence U.S. job openings at 6.2 million »

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