News - Lower energy costs help reduce inflation

17th July 2007 - The UK Government target measure of inflation - the consumer prices index was down 0.1 per cent in June 2007 from 2.5 percent in May, the Office for National Statistics revealed today.

The main price rise over the period was due to a rise in petrol prices but this was offset by lower gas and electricty costs and a fall in the prices of wide range of consumer electronic items such as TV's, DVD's and Cameras

The retail prices index rose however in June 2007 to 4.4 percent from 4.3 percent in May. Mortgage interest payments accounted for most of the rise with Banks and Building Societies passing on the increasingly regular hikes in the base rate to their borrowers - Mortgages are excluded from the consumer prices index. The retail prices index remained unchanged if mortgage interest rises were excluded.

More News

Bank Review Base rate

Brown promises three million more affordable houses

Interest rates rise to 5.75 per cent

Important Checks Before You Sign Up For a Loan

Getting a Loan when you have a bad history 'more difficult' say Lenders

Bad Credit Loans for Homeowners

Information on this site must not be construed as legal or financial advice on specific matters. All information is a public resource of general information, which is intended be accurate, complete and up to date but is not guaranteed to be so. Your use of information on the Web Site or materials linked from the Web Site is at your own risk - full terms. Copyright Loansite.co.uk Ltd 2007