Inflation watchers were greeted by a rise this month, with the latest official figures showing a rise to 2.5% for the year to July. Price inflation, as measured by the Consumer Prices Index (CPI) rose from 2.4% the previous month, due in part to higher prices for transport costs and computer games. There were some falls in the price of clothing which partly offset these price rises. It’s the first rise in CPI price inflation since last November, in line with medium term economic forecasts and remaining higher than the Bank of England’s target of 2%.
First price inflation rise since November
This 505 word blog post looks at the latest official price inflation figures, showing the first rise in CPI price inflation since last November, and what this means for retirement and financial planning.Written on 15th August 2018.