International
UK Inflation Data: What to Expect from September Data
Britain's inflation rate is expected to fall when the Office for National Statistics releases new figures for September next Wednesday.
According to FactSet's consensus, the Consumer Price Index (CPI) is expected to decline from 2.2% in August to 2.1% last month. Inflation is still just above the Bank of England's 2% target.
'Core' inflation, which excludes volatile food and energy prices, is expected to fall to 3.5%, down slightly from 3.6% in August.
Is inflation falling in the UK?
Both inflation measures were low this year. Headline CPI rose to 2.2% in July and August after hitting the BoE's 2% target in June, while core inflation fell to 3.3% in June before rising again. Policymakers remain concerned about the persistence of core inflation, a measure that excludes volatile energy, food and alcohol prices.
This is the last inflation print before the Budget on October 30 and the Bank of England meeting on November 7, when interest rates are expected to be cut from 5% to 4.75%. If so, the BoE will cut interest rates for the second time this year, following its cut last August.
At the most recent central bank meeting on September 19, interest rates were left at 5% and the central bank maintained its cautious message about continued inflation.
“Monetary policy will likely need to remain restrictive long enough until the risk of a sustained return to the 2% target for inflation over the medium term is further removed,” he said at the time.
In August, the bank published its quarterly monetary policy report detailing its outlook for longer-term inflation. In all of the bank's 2025 inflation forecasts, CPI exceeded the 2% target within a year before falling below the 2026 target. This partly explains the Bank of England's warnings about the Bank of England cutting interest rates too quickly.
War, sterling and energy bills
What has changed in the UK since the last inflation? Escalating conflict in the Middle East has not yet put too much pressure on oil prices, which are actually lower than a year ago. Brent crude oil is currently trading at $78.80 per barrel, down 0.8% from 12 months ago.
Meanwhile, the pound strengthened in September, hitting $1.34 at the end of September before falling again. This time last year the pound was trading at $1.22. The pound against the euro started at €1.15 at the start of the year and has reached €1.20.
Basically, a strong currency tends to make imports cheaper, but it also tends to make exports more expensive, making exports less attractive to foreign buyers. The UK relies on imports of many goods, particularly food and energy, and in the second quarter of 2024 it also had a 'trade deficit' of almost £60 billion for goods (importing more than it exports). The UK has a trade surplus of £40 billion. But in service.
Gas and electricity bills will now rise again, as the Ofgem price cap on domestic energy prices was lifted on 1 October. This effect is noticeable in headline inflation data for October, released in mid-November.
Looking at overall inflation trends, UK inflation peaked above 11% in 2022 and has since fallen sharply. The Bank of England (BoE) interest rate increased from 0.1% in December 2021 to 5.25% in August 2023. Global central banks have been cutting interest rates this year as inflation falls, with the US Federal Reserve, European Central Bank and Bank of England all cutting rates. adjustment.
SaoT iWFFXY aJiEUd EkiQp kDoEjaD RvOMyO upPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LQclWTVQ Yt tt W bpcDf V IbqG P IPcqyH hBH FqFwsXA tc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDca Zqm h yHL HGAJZ BLe LqY GbOUzy uszVE l BLe LqY GbOUzy uszVE l BLe gpvAr l Z GJk Gi a wg ccspz System xHibMpk EIhNl Vl Zf J y Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk
Become a Morningstar Basic member to access this article. Register for free
Sources 2/ https://www.morningstar.co.uk/uk/news/256024/uk-inflation-data-what-to-expect-from-septembers-data.aspx The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]