Tuesday, May 16, 2017

ONS releases - UK consumer price inflation: Apr 2017, UK house price index: Mar 2017, UK producer price inflation: Apr 2017, Index of private housing rental prices (IPHRP) in Great Britain: Apr 2017

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16 May 2017


Economy

Prices economic commentary: May 2017

Consumer and producer prices

The different timing of Easter in 2016 and 2017 contributed to air fares being the main contributor to the increase in the 12-month rate of the Consumer Prices Index including owner occupiers' housing costs (CPIH) between March 2017 and April 2017.

Input producer prices rose by 16.6% between April 2016 and April 2017, the third consecutive month of slower annual growth.

The growth rate of services producer prices in Quarter 1 (Jan to Mar) 2017 remains lower than the growth in services prices paid by consumers over the same period.

House prices

Average house prices in Inner London have fallen in recent months for all property types, including flats.

UK services producer price inflation: Jan to Mar 2017

The headline rate of services producer price inflation, as estimated by the Services Producer Price Index (SPPI), continued to fall back in Quarter 1 (Jan to Mar) 2017 following steady growth across 2016.

The annual rate of growth for SPPI rose 1.0% in Quarter 1 2017, which is down from 1.2% in Quarter 4 (Oct to Dec) 2016 and below average growth of 1.4% across 2016.

The quarterly rate of growth increased 0.3% in Quarter 1 2017, which is up from Quarter 4 when the rate was flat. 

UK producer price inflation: Apr 2017

Factory gate prices have grown for 15 consecutive months to April 2017 despite raw material costs being relatively flat since January 2017.

The monthly rate of inflation for goods leaving the factory gate (output prices) was unchanged at 0.4% in April 2017, while input prices rose 0.1% following 2 months of no growth.

The annual rate for factory gate price inflation was positive but unchanged at 3.6%, while the annual growth rate for input prices fell back to 16.6% from a peak of 19.9% in January 2017.

Index of private housing rental prices (IPHRP) in Great Britain: Apr 2017

Private rental prices paid by tenants in Great Britain rose by 1.8% in the 12 months to April 2017; this is down from 2.0% in March 2017.

In England, private rental prices grew by 2.0%, Wales saw growth of 0.7% while Scotland saw zero growth in the 12 months to April 2017.

London private rental prices grew by 1.4% in the 12 months to April 2017, 0.4 percentage points below the Great Britain 12-month growth rate. 

Construction output price indices (OPIs): UK, Jan to Mar 2017

The interim Construction Output Price Index (OPI) for all construction rose 1.9% in the year to March 2017, unchanged from February 2017.

Prices rose in the year to March 2017 for all work types within new work and repair and maintenance, with the exception of infrastructure, which fell 1.5% on the year.

The interim Construction OPI for all new work increased 1.7% in the year to March 2017, down from an increase of 1.9% in the year to February 2017. Private industrial showed the largest movement with an increase of 4.4% in the year to March 2017.

UK house price index: Mar 2017

Average house prices in the UK have increased by 4.1% in the year to March 2017 (down from 5.6% in the year to February 2017). This continues the general slowdown in the annual growth rate seen since mid-2016.

The average UK house price was £216,000 in March 2017. This is £9,000 higher than in March 2016 and £1,000 lower than last month.

UK consumer price inflation: Apr 2017

The Consumer Prices Index including owner occupiers' housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.6% in April 2017, up from 2.3% in March.

The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since June 2013.

Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year.


People, population and community

Deaths registered in England and Wales, provisional: week ending 5 May 2017

The provisional number of deaths registered in England and Wales in the week ending 5 May 2017 (week 18) was 9,064; this represents a decrease of 1,844 deaths registered in comparison with the previous week (week 17).

The average number of deaths for the corresponding week over the previous 5 years was 9,984.


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