Inflation figures

Yesterday's inflation figures edged up by a tenth of one percentage point but remain well within target.

UK inflation, as measured by the Consumer Prices Index (CPI), rose to an annual rate of 1.3% in October, up from 1.2% in the previous month and therefore marginally above its recent five-year low. This compares with a target range for CPI inflation of within 4%, with the centre of the target range being 2%.

The Office for National Statistics (ONS), said the rise was because transport costs fell by less than they did a year ago.

In addition, prices in the recreation and culture sectors rose, particularly for computer games and toys.

However, the price of food and non-alcoholic beverages fell by 1.4% in October, when compared with last year, marking the sixth consecutive month without a rise - the longest such period since 2000. Furniture and household equipment prices also fell, by 1.1%, most notably three-piece suites and settees.

The ONS also reported that the Retail Prices Index, another measure of inflation, grew by 2.3% in the year to the end of October, the same rate as recorded for September.

Comments

Jim said…
The price of my food has fallen even more. In fact our two rabbits often eat more expensivly than I do.

The reason for this is SWMBO, who is in charge of shopping, tends to visit the supermakets on her way home from work, half an hour or so before they close, so my food tends to come from the salmonella shelf, just after the man with the price gun, has marked the lamb chops down to 15p or so.

the rabbits get the best dried rabbit food reserved at the pet shop.

:o)
12:48 pm
Jim said…
Jokes aside it does prove a good political point. The food regulations state that some foods should carry a "sell by" as well a "use by" date.

The shop cant sell food (still perfectly fine to eat) after its sell by date, so they tend to mark it down, then again, then again until it ends up in the (1p-20p bracket) this happens at the end of the "sell by" date, other wise it goes in the bin after the shop closes. though none of it is ever past the "use by" date, and is perfectly safe to eat.

Its very true that to create a full sunday roast dinner in this manner can cost less than £1.
(well Less than £1 to buy the food, you still have to pay a load for the gas/electric to cook it after subsidising a daft energy policy, but still, there we go.

All because of a regulation stating that a "sell by" date be displayed.
1:03 pm
Chris Whiteside said…
You make an interesting point - the law of unintended consequences strikes again!
10:31 pm
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