This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.guardian.co.uk/news/datablog/2009/mar/09/inflation-economics

The article has changed 19 times. There is an RSS feed of changes available.

Version 6 Version 7
UK inflation since 1948 UK inflation since 1948
(about 1 month later)
UK inflation stood at 2.6% in July 2012, the Office for National Statistics (ONS) revealed today - down from 2.4% in June. UK inflation stood at 2.5% in August 2012, the Office for National Statistics (ONS) revealed today - down from 2.6% in July.
What price hikes are responsible for the 0.2% increase on last month? Julia Kollewe writes today: What does this level of inflation mean for the UK economy? Josephine Moulds writes today:
A sharp rise in air fares and less discounting at clothes shops pushed up inflation. The Bank of England expects inflation to ease below the 2% target by early next year, but that could be scuppered by rising oil and commodity prices. Most economists expect the central bank to increase its £375bn quantitative easing programme after the next £50bn round is completed in November.
Air fares soared 21.7% between June and July, the biggest increase since 2004, mainly for flights to European destinations ahead of the London Olympics. The monthly fall in clothes and shoe prices was the smallest between June and July since records began in 1996. Retailers started their summer sales early in June to shift their seasonal ranges following unusually wet weather. What has brought the level of inflation down? The office for national statistics state that:
The future does not look so bright either, with higher food prices – caused by grain and sugar price rises due to bad harvests and rail fares now set to rise by 6.2% in January. Let's hope there will be some price drops to balance out the strain. the largest downward pressures behind the change in the CPI rate came from furniture, household equipment and maintenance, housing and household services (particularly domestic gas) and clothing & footwear. These were partially offset by an upward pressure from transport (particularly motor fuels).
The ONS publish two measures of inflation. The consumer price index (CPI) measure of inflation which we have quoted above. In September last year, when the CPI stood at 5.2%, it had never been higher in recorded history.The ONS publish two measures of inflation. The consumer price index (CPI) measure of inflation which we have quoted above. In September last year, when the CPI stood at 5.2%, it had never been higher in recorded history.
The second measure is the retail price index (RPI) which stands at 3.2% for July, up from 2.8% in June. The second measure is the retail price index (RPI) which stands at 2.9% for August, down from 3.2% in July.
There are some important differences between the two ways the ONS measure inflation. The government prefers the consumer price index, which also includes services, housing, electricity, food, and transportation, but the retail price index covers more items. The RPI includes housing costs and is used for many pay negotiations and used to be used for pension payments. We've included both here - just click on the links on the spreadsheet. You can get the full list of items in the inflation basket here.There are some important differences between the two ways the ONS measure inflation. The government prefers the consumer price index, which also includes services, housing, electricity, food, and transportation, but the retail price index covers more items. The RPI includes housing costs and is used for many pay negotiations and used to be used for pension payments. We've included both here - just click on the links on the spreadsheet. You can get the full list of items in the inflation basket here.
We have also added in pay data - and you can see how inflation is racing ahead of average earnings. We have also added in pay data - and you can see how inflation has been racing ahead of average earnings.
We have gathered all the data for inflation since June 1948. Let us know what you can do with this data.We have gathered all the data for inflation since June 1948. Let us know what you can do with this data.
To find out more about how RPI and CPI differ, explore this set of interactive charts. The graphics show a breakdown of the different measures and components of inflation, and you can compare rates between countries.To find out more about how RPI and CPI differ, explore this set of interactive charts. The graphics show a breakdown of the different measures and components of inflation, and you can compare rates between countries.

Download the data
Download the data
DATA: UK inflation since the 1940s - CPI and RPI
INTERACTIVE: how we visualised the data		DATA: UK inflation since the 1940s - CPI and RPI
INTERACTIVE: how we visualised the data
More dataMore data
More data journalism and data visualisations from the GuardianMore data journalism and data visualisations from the Guardian
World government dataWorld government data
• Search the world's government data with our gateway• Search the world's government data with our gateway
Development and aid dataDevelopment and aid data
• Search the world's global development data with our gateway• Search the world's global development data with our gateway
Can you do something with this data?Can you do something with this data?
• Flickr Please post your visualisations and mash-ups on our Flickr group
• Contact us at data@guardian.co.uk		• Flickr Please post your visualisations and mash-ups on our Flickr group
• Contact us at data@guardian.co.uk
• Get the A-Z of data
• More at the Datastore directory
• Follow us on Twitter
• Like us on Facebook		• Get the A-Z of data
• More at the Datastore directory
• Follow us on Twitter
• Like us on Facebook