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CPI unchanged but pressures remain

INFLATION remained unchanged last month at 2.7% - the third consecutive month the figure has stayed the same.

Despite the status quo, data from the Office for National Statistics suggests there were still significant upward and downward pressures on the consumer prices index (CPI) figures.

The ONS said the largest upward pressures came from price increases in gas and electricity bills. This contrasts with the figures for November when pressures came from food and non-alcoholic beverages (principally bread & cereals and vegetables) and housing & household services (particularly domestic gas and electricity).

Air fares provided the largest downward pressure, with prices rising at a far slower rate than a year ago. The largest downward pressures in November came from motor fuels and furniture, household equipment & maintenance.

The Retail Prices Index rose slightly on the month standing at 3.1% in December 2012, up from 3.0% in November. Utility bill increases were the largest contributor to the rise.

Source : The Business Desk – West Midlands

15 January 2013
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