Inflation drops but savers warned the squeeze will continue
20 July, 2017, 00:59 | Author: Roderick Gutierrez
"Today's inflation numbers show CPI inflation rising from 0.5 per cent in June 2016 to 2.6 per cent a year later - that's more than a five-fold increase in only a year", she said.
Economists in a Reuters poll had expected consumer prices to rise 0.2 percent while the central bank had expected them to increase 0.3 percent on a quarterly basis between April and June.
"Today's fall in inflation is mainly due to drops in petrol and diesel prices". Inflation has been higher than average nominal wage growth in recent months, meaning fall in real pay. First, for the economy which relies on consumer spending for three-quarters of its growth; and second, for consumers who will continue to face higher living costs. The fall was driven by the lower cost of petrol, after a significant fall in the oil price from mid-May to mid-June.
The principle question for rate setters now - and indeed those with a mortgage or savings - is whether the fall in June signals inflation has peaked and will dip further without a rate rise being needed, or if this is simply a one-off and prices will be back on the rise soon?
Hargreaves Lansdown senior economist Ben Brettell says the lower inflation figure will ease the impact on consumers, which the United Kingdom economy is heavily reliant on.
In "seasonally-adjusted" terms inflation came in at "negative 0.1 per cent" Statistics NZ said.
Previous rises have been fuelled by the weak pound putting pressure on households with those with the lowest incomes hardest hit.
Most economists had expected the headline rate of CPI to remain roughly the same or at least only shrink to 2.8%, although the number was in line with the Bank of England's latest forecast.
Sterling lost half a cent against the US dollar and British government bond prices jumped as the figures suggested the BoE was under little pressure to raise rates when it next meets in early August, despite concerns among some of its policymakers about rising prices.
The main downward driver was fuel where prices fell for the fourth month in a row, and by 1.1 per cent between May and June.
Observers will also be watching the contribution of new members of the Bank of England's monetary committee over the coming months following the departure of two existing members to see if the change in composition of the committee changes its approach at all.
United Kingdom inflation registered a shock fall last month, sliding to 2.6%, well below the 2.9% recorded in the month before and economist expectations of no change. "Short-term rates will not move much this year and probably not much next year as well, and that's the part the Reserve Bank is largely anchoring", he said.
Doris Payne, the octogenarian famed for swiping huge amounts of high-priced bling over the years, has been arrested again. Doris Payne is believed to have once stolen a 10.5 carat diamond in Monte Carlo reported the NY Daily News .
While the first victim was being treated, the pair are believed to have carried out four more attacks just 15-25 minutes apart. Both Khan and her cousin Jameel Muhktar are Muslim, and police say that they are investigating the attack as a hate crime.
Atari claims that this console will stay true to its heritage while also appealing to both old and new Atari fans. As such, it intends to launch two editions of its new console: a red/black version and a wood version.
Al Pacino will star as Paterno in the still untitled film, and HBO on Monday released the first look at Pacino as Paterno . The duo's first project, " The Humbling ", was released in 2014, according to The Hollywood Reporter .
Rutherford can be an important piece of Chicago's efforts going forward, and either way, Fraizer was not in their long-term plans. But like we said, Todd Frazier isn't scared of the big stage and could end up thriving in the Bronx.
Expectations of solidly higher earnings , along with fairly low interest rates, have propelled stocks to multiple records in 2017. Advancing issues outnumbered declining ones on the NYSE by a 1.28-to-1 ratio; on Nasdaq , a 1.09-to-1 ratio favored advancers.
Meanwhile, the Opposition choice for vice president Gopalkrishna Gandhi also filed his nomination papers on Tuesday. He succeeded Jana Krishnamurthy as BJP president in 2002, and quit on October 18, 2004, after the NDA's defeat.
Following this rescue mission, almost 150 students rescued were sent to camps, while the rest were handed over to their guardians. Following heavy shelling in the area, all schools in Nowshera and Manjakote sector have been closed till further orders.
Part of budget legislation passed in May, however, gave the Department of Homeland Security - which includes U.S. Kelly said there are not enough qualified workers available to American businesses for fiscal year 2017.
Nearly all of the answers were related to the "yes" "He said when confirming the voters' rejection of the Constituent Assembly". Fox said he left Venezuela as planned Monday and hadn't been personally notified of any action by the Venezuelan government.
Redskins, Cousins headed toward expensive contract deadline
San Francisco is the one place that makes the most sense because of Cousins' established relationship with coach Kyle Shanahan . Behind Cousins they have Colt McCoy (who played really well in five starts in 2014) and Nate Sudfeld (who is worthless).
Good boy golden retriever saves baby deer from drowning
The Golden Retriever laid down with the fawn and kept nudging the baby animal with his nose trying to revive his new friend. Floridia called it a "do-or-die" situation, saying he had no choice but to go after the deer or it would have died.
Amazon May Crush Blue Apron
Amazon has registered a USA trademark for what looks suspiciously like a meal-kit service with the slogan "We do the prep". However, since the IPO, Blue Apron's stock has plummeted, in mid-day trading on July 17, 2017, the stock traded at $6.51.
Australian woman shot dead by cop in US
Damond moved to the United States about three years ago because her fiancé could not move to Australia with his son and work. Chalk drawings on the driveway where they gathered said she would be remembered as "a loving woman, a light to everyone".
PM to slap down ministers over Cabinet leaks
I think the public expect us to be disciplined and effective and the only people smiling at this are in Brussels and Paris'. GMB national secretary Rehana Azam also said Mr Hammond was "out of touch with public opinion" over public sector pay.
Massive offensive launched against terrorists in Rajgal
He said that the operation would first secure the border near Rajgal Valley and forces would then clear the rest of the area. He said that a major operation was carried out in Rajgal Valley along Pakistan-Afghan border on Sunday morning.