Friday, 05 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.K. Inflation Holds Below BOE Target as Fuel Costs Fall
Wednesday, 16 October 2019 15:58 WIB | ECONOMY |Ekonomi inggris

Motoring costs fell last month and the price of computer games jumped, leaving U.K. inflation comfortably below the Bank of England™s 2% target.

Consumer-price growth held at a near three-year low of 1.7% in September, the Office for National Statistics said Wednesday. Core inflation accelerated to 1.7% from 1.5% in August.

The lack of headline inflation, combined with clear evidence this week that the labor market is softening, may reinforce the increasingly dovish tilt among Bank of England officials.

The latest signal came from Gertjan Vlieghe, who said Tuesday that further monetary stimulus may be required if Britain fails to reach a deal with the European Union before the Oct. 31 deadline. Even if it succeeds, the case for near-term rate hikes had all-but disappeared given slowing growth in Britain and around the world.

Downward pressure last month came from the price of auto fuel, which fell by 0.7% on the month, second-hand cars and domestic energy bills.

This was offset by recreation and culture costs, with the price of computer games rising as new titles were introduced ahead of the Christmas sales period. There was also upward pressure from furniture, household appliances and overnight hotel stays.

Inflation is expected to dip again this month on cheaper energy after industry regulator Ofgem lowered its price cap. Thereafter everything depends on the outcome of efforts to break the Brexit deadlock.

Source : Bloomberg

RELATED NEWS
U.S. Jobless Claims Persist Even as Americans Return to Work...
Thursday, 4 June 2020 19:42 WIB

As business reopenings picked up nationwide, Americans filed nearly 2 million applications for unemployment benefits last week, reflecting a slowing -- though far from a halt -- in job losses. Initia...

U.S. Services Sector Off 11-Year Trough...
Wednesday, 3 June 2020 21:19 WIB

U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the...

Private Sector Shed 2.76 Million Jobs in May, ADP Says, Much Less Than Forecast...
Wednesday, 3 June 2020 19:42 WIB

Private-sector employment shed a total of 2.76 million jobs in May, Automatic Data Processing Inc. reported Wednesday. The gain was well below forecasts from economists surveyed by Econoday who expect...

UK Economy Still Shrinking But Pace Of Decline Eases: PMI...
Wednesday, 3 June 2020 15:56 WIB

Britain™s economy remained in a severe downturn in May although the pace of the slump moderated from April™s crash and some companies benefited from the easing of coronavirus lockdowns around the ...

ISM Manufacturing PMI improves to 43.1 in May vs. 43.6 expected...
Monday, 1 June 2020 21:32 WIB

The economic activity in the US' manufacturing sector contracted at a softer pace in May than it did in April with the ISM's Manufacturing Purchasing Managers' Index (PMI) improving to 43.1 from 41.5....

LATEST NEWS
Chile Records Largest Single-Day COVID-19 Death Total Since Outbreak Began

Authorities say Chile, which has one of the highest totals for coronavirus cases in Latin America, confirmed 87 deaths from the virus in one day Wednesday, the largest single-day spike since the outbreak began more than two months ago. A surge in...

Hong Kong Stocks Open Slightly Higher

Hong Kong shares inched up at the start of trade Friday, though gains were capped by profit-taking after a four-day rally that has seen the index pile on more than six percent. The Hang Seng Index added 0.09 percent, or 21.88 points, to...

Oil Set for Sixth Weekly Gain as OPEC+ Nears Cut Extension Deal

Oil was headed for a sixth weekly gain after OPEC+ reached a tentative agreement to extend record production cuts until the end of July. Futures in New York edged lower Friday, but are up almost 5% this week. After almost a week of wrangling,...

POPULAR NEWS
Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB

Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...

Gold futures down a third straight session
Thursday, 4 June 2020 01:03 WIB

Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S....

Gold Prices See Subdued Rise, Buoyed By Weaker Dollar As Stocks Rally
Tuesday, 2 June 2020 19:23 WIB

Gold futures on Tuesday were edging higher on the back of a weaker U.S. dollar, with gains capped by the precious metal by a global rise in assets...

Gold Eases as Equity Rally Boosts Risk Appetite
Wednesday, 3 June 2020 09:36 WIB

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on...