Business, industry and trade The interim Construction Output Price Index (OPI) for all construction rose 1.8% in the year to June 2017, down from an increase of 2.0% in the year to May 2017. Prices rose in the year to June 2017 for all work types within new work, and repair and maintenance, with the exception of infrastructure, which fell 1.2% on the year. Economy Growth in manufacturers' output prices and the Consumer Prices Index including owner occupiers' housing costs (CPIH) remained stable in the latest month, July 2017. Within the CPIH food and non-alcoholic drinks category, the main contributors to the 12-month growth rate of 2.6% in July 2017 were bread and cereals, meat, and fruit. Base effects on input producer prices associated with the sterling depreciation during 2016 are unwinding, leading to a sharp moderation in the 12-month growth rate of input producer prices from 10.0% in June 2017 to 6.5% in July. Services producer prices grew 0.8% between Quarter 2 (Apr to June) 2016 and Quarter 2 2017, in line with recent moderate growth in unit labour costs for the services sector. The recovery of average house prices from the pre-downturn peak varies significantly across the UK, with only three southern regions having grown more strongly than general consumer price inflation and regular wages by June 2017.
The Consumer Prices Index including owner occupiers' housing costs 12-month inflation rate was 2.6% in July 2017, unchanged from June 2017.
Private rental prices paid by tenants in Great Britain rose by 1.8% in the 12 months to July 2017; this is unchanged for the fourth consecutive month. In England, private rental prices grew by 1.9%, Wales saw growth of 1.3% while Scotland saw rental prices increase by 0.2% in the 12 months to July 2017. London private rental prices grew by 1.5% in the 12 months to June 2017, 0.3 percentage points below the Great Britain 12-month growth rate.
The headline rate of inflation as estimated by the Services Producer Price Index (SPPI) slowed for the third consecutive period in Quarter 2 (Apr to June) 2017. The annual rate of growth for SPPI was 0.8% in Quarter 2 2017, which is down from 1.6% in Quarter 3 (July to Sept) 2016 and is the lowest annual growth since Quarter 4 (Oct to Dec) 2015. The quarterly rate of growth was 0.3% in Quarter 2, which is down from 0.4% in Quarter 1 (Jan to Mar).
This is a high-level summary of the UK House Price Index (HPI). For full details, including commentary, historical data tables and analytical tools please see the main publication of the House Price Index, published today (15 August 2017) by HM Land Registry on the GOV.UK website.
The annual rate of inflation for goods leaving the factory gate slowed for the third time this year, mainly as a result of 2016 price movements dropping out of the annual comparison. Factory gate prices (output prices) rose 3.2% on the year to July 2017, from 3.3% in June 2017, which is a 0.5 percentage points decline from their recent peak of 3.7% in February and March 2017. People, population and community Weekly death figures provide provisional counts of the number of deaths registered in England and Wales in the latest weeks for which data are available. |
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