Howard Archer
Howard Archer
activity adds annual buyer cent climb degree evidence house housing increased inflation limited low market november october per price prices recent recently reported stronger
The climb in annual house price inflation to 2.5 per cent in November from a nine-year low of 1.8 per cent in October reported by the ODPM adds to the recent evidence that house prices have firmed to a limited degree recently amid stronger housing market activity and increased buyer interest.
consumer energy evidence higher increasing inflation late pay price pushed recently starting
This confirms that late in 2005 there was still no evidence that pay was starting to be pushed up by recently higher consumer price inflation and increasing energy bills.
bank benign contained england february inflation line overall report
This is still a pretty benign report overall and broadly in line with Bank of England expectations contained in the February Inflation Report.
basis core deter further hiking inflation interest january limited points rates
Nevertheless, limited core inflation in January will not deter the ECB from hiking interest rates by a further 25 basis points on Thursday.
annual base due effects fall headline inflation march oil output price prices primarily producer reflecting rise sharp year
The fall in headline annual producer output price inflation in March was primarily due to base effects reflecting the particularly sharp rise in producer prices a year ago as oil prices surged.
encourage immediate impression inflation rates report trim view
The immediate impression is that the inflation report is pretty neutral, and it does little to encourage the view that the MPC could trim rates in the immediate future.
august consumer core due food fuel higher increase inflation july prices primarily
The increase in inflation in August was primarily due to higher prices for fuel and some food items, while core consumer inflation actually edged back down to 1.7% after spiking up to 1.8% in July from 1.5% in June.
chain data effects energy following headline high inflation limiting oil pressures price producer strong supply welcome
Following the higher-than-expected headline producer price inflation data for January... (Tuesday's data) is welcome reassurance that strong competitive pressures through the supply chain are still limiting the pass-through effects of high oil and energy prices.
bank encourage immediate impression inflation rates report trim view
The immediate impression is that the inflation report is pretty neutral. It does little to encourage the view that the bank could trim rates in the immediate future.
below data features headline positive
Below the headline data there are some positive features that should not be overlooked.
consumer equity mortgage peak reduced since spending weighed
The markedly reduced mortgage equity withdrawal since its fourth-quarter 2003 peak has undoubtedly weighed down significantly on consumer spending since mid-2004.
accelerate basis believe buyer doubtful floor higher highly house interest keeping likely move prices remain soon start sustained thereby time
This is likely to put a floor under house prices, but we remain highly doubtful that house prices will move substantially higher on a sustained basis any time soon. If house prices start to accelerate markedly, we believe buyer interest will soon diminish, thereby keeping a lid on prices.
boosts clear coming december demand domestic economic hopes improvement kick months sentiment support
The clear improvement in economic sentiment in December boosts hopes that domestic demand will increasingly kick in over the coming months to support growth.
appears chain contain continuing effects energy high oil pressures round second street strong supply
It appears that strong competitive pressures on the high street and through the supply chain are continuing to contain any second round inflationary effects of high oil and energy prices.