UK Retail Inflation Report

Retail Economics reports a range of retail inflation indices on a monthly basis. Subscribers have access to all data (analytical reports and interactive data) and category breakdowns including food inflation, non-food inflation, clothing and footwear, household goods, food, DIY and gardening, consumer electricals, commodity prices, exchange rates and more.

Report

UK Retail Inflation - March 2017

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The UK Retail Inflation report includes:

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Summary and economic overview
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Consumer inflation by category
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Prices, costs and margins
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Comparison of inflation benchmarks
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Commodity prices
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Exchange rates
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Shipping costs
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Producer and Factory Gate inflation
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Summary of external retail sales sources including Office for National Statistics, British Retail Consortium, commodity prices, commodity benchmarks, exchange rates and more

Summary

The Consumer Price Index (CPI) accelerated to 2.3 per cent in February, up from 1.8 per cent in the previous month. The surge in inflation was above the consensus estimate of 2.1 per cent and it is now rising at the fastest rate since September 2013.

Importantly, it was markedly higher than the Bank of England’s forecast of 2.0 per cent suggesting that the impact of sterling’s collapse is feeding through the supply chain at a faster pace than they had anticipated. Furthermore, given the future path of inflation may be a little higher than the Monetary Policy Committee had expected, interest rates could rise rather sooner than the markets have recently been anticipating. That said, considerable uncertainty remains around Brexit negotiations and how strongly the economy will weather this uncertainty. As such, we don’t expect a hike in 2017.