britain\s easing inflation leaves analysts gloomy
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

Britain\'s easing inflation leaves analysts gloomy

Arab Today, arab today

Arab Today, arab today Britain\'s easing inflation leaves analysts gloomy

London - AFP

British inflation slowed surprisingly in June, official data showed on Tuesday, but this is unlikely to kick-start better fortunes for the economy owing to bad trade figures, analysts said. Britain\'s 12-month inflation slowed unexpectedly to 4.2 percent last month from 4.5 percent in May as cheaper toys and televisions helped to offset high food and energy prices, the Office for National Statistics said. Consumer Prices Index inflation also surprisingly fell by 0.1 percent in June from May on a month-on-month basis, the ONS added. Analysts had forecast the annual rate to remain at 4.5 percent, which had been the highest level since September 2008, and predicted a month-on-month gain of 0.2 percent, according to a poll by Dow Jones Newswires. \"June\'s better than expected consumer prices figures brought signs that underlying price pressures might be starting to ease,\" said Jonathan Loynes, chief European economist at Capital Economics research group. He added: \"May\'s dreadful trade figures... appeared to put another dent in hopes that strong growth in net exports will help the economy to withstand the effects of the fiscal consolidation\" or Britain\'s attempt to reduce its debt. Britain\'s trade-in-goods deficit widened in May from the level in April, the ONS also said on Tuesday. The deficit grew to £8.5 billion ($13.5 billion, 9.6 billion euros) in May from an upwardly-revised £7.6 billion in April. Analysts had forecast a deficit of £7.2 billion in May. \"The weakened trade performance in May adds to concerns that the UK economy saw minimal growth at best in the second quarter,\" said Howard Archer, a senior analyst at the IHS Global Insight consultancy. British gross domestic product (GDP) expanded by 0.5 percent in the first three months of 2011 but that left activity broadly flat over the past six months after a 0.5-percent contraction in the previous quarter. \"The preliminary estimate for GDP growth in the second quarter of 2011 is likely to be extremely weak and, in our view, this gives the Bank of England more than enough rationale for keeping interest rates on hold this year,\" said Scott Corfe, an economist at the Centre for Economics and Business Research. The Bank of England last week voted to hold its key interest rate at a record low level, in contrast to the European Central Bank, as policymakers set aside inflation concerns and sought to shore up Britain\'s flagging recovery. The BoE\'s monetary policy committee decided to hold borrowing costs at just 0.50 percent, where they have stood since March 2009. By comparison, the ECB last week ramped up its interest rates by a quarter-point to 1.50 percent, the second such hike since April as it seeks to tame inflationary pressures across the eurozone. Policymakers normally raise interest rates to combat high inflation but the BoE\'s hands have been tied by Britain\'s recent flat economic growth. Britain publishes the first official estimate of GDP for April-June on July 26.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

britain\s easing inflation leaves analysts gloomy britain\s easing inflation leaves analysts gloomy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

britain\s easing inflation leaves analysts gloomy britain\s easing inflation leaves analysts gloomy

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday