Published: Wed, February 13, 2019
Markets | By Noel Gibbs

Retail inflation dips further to 2.05% in January, lowest in 19 months

Retail inflation dips further to 2.05% in January, lowest in 19 months

The latest fall in inflation marks the end of the cost of living outstripping the Bank of England's 2% target for CPI, which is set by the government.

Analysts polled by Reuters had forecast January's annual increase in the consumer price index at 2.48 percent.

Inflation plunged to 1.8 per cent in January the lowest rate for two years, official statistics revealed today. Retail inflation based on the Consumer Price Index (CPI) for December 2018 has also been revised downward to 2.11 per cent from the earlier estimate of 2.19 per cent.

"The further falling back in inflation facilitates the Bank of England maintaining a "wait and see" approach on interest rates until after the United Kingdom leaves the EU", Howard Archer, chief economic adviser to the EY ITEM Club consultancy, said.

Nicki Minaj Says She Was ''Bullied Into Staying Quiet'' by Grammys
The company has issued a public apology to rap star Nicki Minaj following shade thrown her way in a since-deleted Twitter message. For all we know, Tom Petty came back from the dead with the sole intention of gifting a huge bunch of flowers to the rap queen .

"This reinforces expectations of a rate cut in April", he added.

Mining sector output contracted by 1 per cent in December as against 1.2 per cent growth in December 2017, the data showed.

Consumer non-durable goods growth was at 5.3 per cent in December compared with 16.8 per cent growth in the year-ago period.

RBI Governor Shaktikanta Das has downplayed the risk India could soon see higher inflation because of bigger budget spending, and has said the MPC would only look at the headline inflation number and ignore core inflation, which has stayed stubbornly high.

Bill to create separate Russian internet gets first approval
In 2017, Russian officials said they wanted to route 95 percent of all internet traffic locally by 2020 , ZDNet added. Russian Federation may temporarily disconnect the country from the internet.

"Morgan Stanley expects the U.S. core consumer price index (CPI) to rise 0.2 percent in January, in line with its three-month average, but sees the headline CPI falling for the fourth consecutive month to 1.5 percent from 1.9 percent". In rural areas, food prices fell 2.80% and in urban areas, it fell by 0.96%.

British consumers have been pressured by inflation caused by the slump in sterling against the dollar and euro after the Brexit referendum in June 2016.

A Reuters poll after the MPC's February 7 rate cut showed a slim majority of economists see another rate cut before the election. The central bank also changed its policy stance to "neutral" from "calibrated tightening", a shift that allows it to act either way on the key rates.

North and South Korea Want to Host the 2032 Olympics Together
The regime is said to have used spent fuel from a nuclear plant in Yongbyon to produce up to 18 pounds of weapons-grade uranium since May 2018.

Like this: