United Kingdom inflation rate rises to 2.9%

Inflation rose unexpectedly to 2.9 per cent in August, as the slump in sterling since the Brexit vote continued to have a powerful impact on domestic United Kingdom prices.

CPIH, which the ONS are now using as their headline measure and which includes owner occupiers’ housing costs, rose from 2.6% in July to 2.7%.

On a monthly basis, inflation in Chile remained at 0.2% in August when compared to July, but above analysts expectations (+0.1%).

Overall, Rwanda’s underlying inflation rate (excluding fresh food and energy) decreased by 0.1 percent when compared to July 2017 and increased by 3.2 percent when compared to August 2016.

Thomas Wells, manager of the Smith & Williamson Global Inflation-Linked Bond Fund, said: “CPI remains well above the Bank of England’s 2% target and we expect it to remain above target throughout the third and fourth quarters of 2017″.

The U.S. consumer price inflation is likely to have picked up in August.

In Rwanda, the National Bank of Rwanda (BNR) estimates an uptick in global inflation and the progressive increment in worldwide oil prices may exert mild inflationary pressure on the Rwandan economy. Wage growth in the United Kingdom remains poor despite the fact that the labour market ostensibly looks strong.

Leave a Reply

Your email address will not be published. Required fields are marked *