UK inflation rises in December

STORY: UK inflation rises in December SHOOTING TIME: Dec. 27, 2023-Jan. 5, 2024 DATELINE: Jan. 18, 2024 LENGTH: 0:01:56 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in London during the Christmas season (Dec. 27, 2023) 2. various of supermarkets in London (Nov. 10, 2023) 3. various of Bank of England (Jan. 5, 2024) STORYLINE: The United Kingdom's (UK) consumer price index (CPI) rose by 4 percent in the 12 months to December 2023, up from 3.9 percent in November, according to data released on Wednesday. This was the first inflation increase since February 2023, said the Office for National Statistics (ONS). It said that CPI rose by 0.4 percent monthly in December. "The rate of inflation ticked up a little in December, with rises in tobacco prices due to recently introduced duty increases," said Grant Fitzner, chief economist of the ONS. Prices in the alcohol and tobacco division rose by 12.8 percent in the year to December. As announced in Autumn Statement 2023 in N

UK economy expands by 0.3 pct in November: ONS

STORY: UK economy expands by 0.3 pct in November: ONS SHOOTING TIME: file DATELINE: Jan. 13, 2024 LENGTH: 00:01:23 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in London STORYLINE: The United Kingdom's (UK) economy expanded by 0.3 percent month-to-month in November 2023, following a fall of 0.3 percent in October, the Office for National Statistics (ONS) said on Friday. Services output grew by 0.4 percent in the month and was the main contributor to the monthly growth, according to the ONS. Production output rose by 0.3 percent while the construction sector fell by 0.2 percent. The country's gross domestic product (GDP) bounced back in November, led by services with retail, car leasing and computer games companies all having a buoyant month, ONS chief economist Grant Fitzner said. In the three months to November, the country's GDP fell by 0.2 percent. Widespread falls were recorded across manufacturing industries, which were partially offset by the increases in public servi

UK inflation unexpectedly jumps to 10.4 pct: ONS

STORY: UK inflation unexpectedly jumps to 10.4 pct: ONS DATELINE: March 23, 2023 LENGTH: 00:03:40 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of supermarket and farm market in London STORYLINE: The United Kingdom's (UK) consumer price index (CPI) rose to 10.4 percent in the 12 months to February 2023 from 10.1 percent in January, the Office for National Statistics (ONS) said on Wednesday. The 10.4 percent rise was higher than the 9.9 percent forecast by economists polled by Reuters, dampening expectations for a marked drop in inflation. Inflation had been falling from the 41-year-high of 11.1 percent in October 2022 for three months. Commenting on the CPI figures, ONS chief economist Grant Fitzner said that inflation was mainly driven by "rising alcohol prices in pubs and restaurants following discounting in January." "Food and non-alcoholic drink prices rose to their highest level in over 45 years with particular increases for some salad and vegetable items as high energy costs and

UK inflation hits fresh new high of 10.1 pct in July

STORY: UK inflation hits fresh new high of 10.1 pct in July DATELINE: August 19, 2022 LENGTH: 0:04:58 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of England 2. various of streets in London, Edinburgh, Glasgow 3. SOUNDBITE 1 (English): ANJALI SANGWAN, London resident 4. SOUNDBITE 2 (English): LISA O'NEILL, Resident in Cheshire near Liverpool 5. SOUNDBITE 3 (English): PATRICK DIAMOND, Professor of public policy at Queen Mary University of London STORYLINE: Britain's Consumer Prices Index (CPI) surged by 10.1 percent in the 12 months to July, the highest level in 40 years, official statistics showed Wednesday. The latest inflation rate was a further increase from 9.4 percent in June and beat economists' forecast of 9.8 percent. Grant Fitzner, chief economist at the Office for National Statistics, said a wide range of price rises drove inflation up again in July. Food prices rose notably, particularly bakery products, dairy, meat, and vegetables, which was also reflected in higher take

UK inflation hits new 40-year high of 9.1 pct amid cost-of-living crisis

STORY: UK inflation hits new 40-year high of 9.1 pct amid cost-of-living crisis DATELINE: June 23, 2022 LENGTH: 00:02:03 LOCATION: London CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of street view in London 2. SOUNDBITE 1 (English): ZARA, Resident in London 3. SOUNDBITE 2 (English): CHANDA, Resident in London STORYLINE: Britain's Consumer Prices Index (CPI) grew by 9.1 percent in the 12 months to May 2022, up from 9 percent in April, the British Office for National Statistics (ONS) said Wednesday. The ONS said the largest contribution came from food and non-alcoholic beverages, compared with a year ago, among which the prices of bread, cereals and meat rose the most. The biggest downward contributors were the recreation and culture and clothing and footwear, said the ONS. "The price of goods leaving factories rose at their fastest rate in 45 years, driven by widespread food price rises," said ONS Chief Economist, Grant Fitzner. "The cost of raw materials leapt at their fastest rate on record," Fitzn

Britain's inflation hits new high of 6.2 pct in February

STORY: Britain's inflation hits new high of 6.2 pct in February DATELINE: March 24, 2022 LENGTH: 00:02:13 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of gas stations in London 3. various of the supermarket in London 4. various of Camden Market in London STORYLINE: Britain's consumer price index (CPI) rose by 6.2 percent in the 12 months to February 2022, up from 5.5 percent in January, hitting a 30-year high, official statistics showed Wednesday. On a monthly basis, the CPI rose by 0.8 percent in February 2022, compared with a rise of 0.1 percent in February 2021, and it was the largest monthly CPI increase between January and February since 2009, according to the country's Office for National Statistics (ONS). "Inflation rose steeply in February as prices increased for a wide range of goods and services, for products as diverse as food to toys and games," said ONS chief economist Grant Fitzner. Clothing and footwear saw a return to traditional February price ri