Blog
Surge in UK inflation
13th May 2008
The latest figures for consumer price inflation were far worse that expected. Consumer prices increased by 0.8% in April taking the annual rate of inflation to 3.0% - right at the top of the level allowed by the government as part of the inflation target. Both goods and service price inflation moved higher as the UK economy struggles under a series of cost-push inflationary pressures. I have attached a PowerPoint file showing some of the key inflation charts.
Annual CPI inflation jumped to 3.0% in April (2.5% in March)
Rise in inflation for both goods and services
Very steep increase in producer input costs
Now showing through in producer prices
Severe cost push inflationary pressures
Rising oil prices (now > $127 per barrel)
Food price inflation (agflation)
Falling pound against the Euro
Rising inflation in China and other emerging countries
PowerPoint File on UK inflation
Inflation_Surge.ppt
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.