UK inflation falls for first time in nearly a year

Reuters ^ | September 14, 2022 | by David Milliken

[Oldeconomybuyer]

LONDON, Sept 14 (Reuters) - British consumer price inflation fell for the first time in almost a year in August as a drop in fuel prices offered some unexpected - and probably brief - respite to households and the Bank of England.

Annual consumer price growth slowed to 9.9% from July's 40-year high of 10.1%, the Office for National Statistics said on Wednesday. This was its first drop since September 2021 and below expectations in a Reuters poll for it to rise to 10.2%.

However, economists warned inflation was likely to peak at around 11% in October when a new household energy tariff cap begins, and said it could be slow to fall due to underlying pressures and new government fiscal stimulus.

"The Bank of England will have to continue turning the screws," said Paul Dales, chief UK economist at consultancy Capital Economics.

[ComputerGuy]

Charles is already fixing things!

[castowell]

Only 9.9%? Well shoot, they ought to throw themselves a party! They can tie it in with Charles’ coronation.

[Jonny7797]

What you say, 9.9 from 10.1 my goodness, let’s party like Biden’s commies did yesterday. Celebrate everyone, we’ve saved the world.

[dfwgator]

Or Truss.

[mykroar]

Almost the exact spin the AP did yesterday, until they changed their article and said inflation was “stubbornly staying high.”

[SaxxonWoods]

Ya gotta start somewhere.

[Mr Radical]

UK inflation falls?
That all depends what crocked figures they make up
The RPI (Retail Prices Index) that was the standard here in the UK for many years until we "harmonised" with the EU CPI (Consumer Prices Index) continued to rise this month, to an annual rate of 14.9%

[Mr Radical]

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/doge/mm23

[Mr Radical]

Oops that should be 14.8%

[M Kehoe]

Oh,bI see, a fall in the rate of inflation.

Happy days are here again...

We’re screwed.

5.56mm