Monday, 19 February 2018
New York
U.K. Inflation Holds at 3% as Cheaper Fuel Offsets Food Prices
Tuesday, 14 November 2017 16:54 WIB | ECONOMY |Ekonomi inggrisUK Inflation

U.K. inflation held at a 5 1/2-year high in October, as cheaper auto fuel offset the rising cost of food.

Consumer prices rose 3 percent in October from a year earlier, the Office for National Statistics said on Tuesday. Economists had expected inflation to accelerate to 3.1 percent.

It means Governor Mark Carney has been spared having to write to Chancellor of the Exchequer Philip Hammond explaining why inflation is more than a percentage point above the 2 percent target, though officials expect the rate to breach that level soon.

Policy makers raised their key interest rate to for the first time in more than a decade this month to tackle the rising cost of living.

The inflation pickup was driven by food prices, which rose 4.2 percent in the year through October, the most in four years. Food prices rose 0.6 percent on the month. The surge reflects rising import prices caused by the almost 12 percent drop in the pound since the Brexit referendum last year.

There was also upward pressure from electricity prices after Centrica Plc raised electricity tariffs by 12.5 percent.

Downward pressure came from cheaper gasoline prices, with the cost of auto fuel declining 0.4 percent on the month compared with a jump of 2.3 percent a year earlier.

Inflation may be now close to a peak, with the central bank saying it predicts a slowdown in coming months and through 2018. That will be a relief for British consumers seeing their spending power squeezed as pay growth fails to keep pace.

Shrinking household spending power is being felt on the high street. October was the œmost horrific on record for retail sales, according to the BDO High Street Sales Tracker last week.

Sluggish wage growth alongside a downward trend in inflation make further rate hikes in 2018 œunlikely, according to Bloomberg Economics.

Core inflation -- which excludes volatile food and energy prices -- held at an annual rate of 2.7 percent in October.

Separate figures showed cost pressures are easing after pound stabilized earlier this year. Input prices for factories rose 4.6 percent on the year, the least since July 2016. Output prices increased 2.8 percent, the slowest pace since November last year. Growth in the price of imported materials slowed to 4 percent.

Separate figures show house-price growth accelerated to 5.4 percent in September from 4.8 percent in August.

Source : Bloomberg

Housing Starts Soar In January, Building Permits Hit 10 1/2-Year High...
Friday, 16 February 2018 21:05 WIB

Pembangunan rumah baru di AS, yang dikenal housing starts, melonjak hampir 10% di Januari ke tingkat tahunan sebesar 1,33 juta. Itu merupakan level tertinggi kedua sejak sesi terbaiknya dan dengan mud...

U.K. Retail Sales Barely Grow as Consumers Subdued by Inflation...
Friday, 16 February 2018 16:41 WIB

Penjualan ritel Inggris hampir tidak tumbuh di bulan Januari, lebih banyak bukti yang menunjukan bahwa konsumen enggan keluar di tengah tekanan dari kenaikan harga. Penjualan meningkat 0,1 persen dar...

Inflation Components of Philly, Empire Manufacturing Gauges Vault in February...
Thursday, 15 February 2018 21:12 WIB

Dua pengukur sentimen manufaktur menunjukkan pertumbuhan yang solid pada bulan Februari, menurut data yang dirilis pada hari Kamis, karena keduanya mengindikasikan kenaikan tekanan harga. Indeks manu...

Jobless Claims Edge Up 7,000 to 230,000...
Thursday, 15 February 2018 20:57 WIB

Klaim pengangguran awal AS meningkat sebesar 7.000 menjadi 230.000 dalam tujuh hari yang berakhir pada 10 Februari. Itu sesuai dengan perkiraan MarketWatch dari para ekonom. Kenaikan klaim rata-rata ...

U.S. Wholesale Prices Rise in Another Sign of Inflation Pickup...
Thursday, 15 February 2018 20:44 WIB

Harga grosir AS naik pada bulan Januari didorong oleh biaya energi dan layanan rumah sakit, menggarisbawahi tanda-tanda inflasi yang kuat dalam ekonomi yang telah membuat imbal hasil obligasi melonjak...

Gold Set for Best Week Since `16 as Inflation Picks Up

Gold heads for biggest weekly advance since...

Gold heads for best weekly gain since 2016

Gold futures grasped at a narrow advance Friday...

US Stocks Open Flat Amid Investor Caution

Wall Street stocks were flat in early trading...

US Stocks Open Flat Amid Investor Caution

Wall Street stocks were flat in early trading Friday, threatening a five-day winning streak in a sign investors remain somewhat cautious after the volatility in equities this month. About 15 minutes into trading, the Dow Jones Industrial Average...

Gold heads for best weekly gain since 2016

Gold futures grasped at a narrow advance Friday and headed for a weekly gain of about 3% even as the dollar index, battered in recent trading, tipped higher and stocks headed for their best week in more than a year. April gold was up $1.80, or...

Housing Starts Soar In January, Building Permits Hit 10 1/2-Year High

Construction on new homes in the U.S., known as housing starts, jumped almost 10% in January to an annual rate of 1.33 million. That™s the second highest level since the Great Recession and it easily exceeded the 1.24 million forecast of...