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News - 16 April 2014

UK inflation drops to 1.6% in March.

The Office for National Statistics (ONS) charted a fall in the headline Consumer Prices Index (CPI) to an annual rate of 1.6% - down from 1.7% in the previous month - which marked a new four-year low.
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“This is the third consecutive month inflation has been below the Bank of England's 2% target rate, and the lowest rate since October 2009. One of the major contributory factors in this is the impact made by petrol prices which were unchanged in February and March, compared with a rise of 2.2p a litre a year earlier.”

The fall in the rate of inflation means that the gap between average wage growth and the rise in prices has continued to narrow.

Average total earnings, including bonuses, rose 1.4% in the three months to January compared with a year earlier, according to ONS figures released last month. Excluding bonuses, wages grew by 1.3%.

The ONS will release its latest figures for average total earnings in the three months to February later in the week.

For those who are looking for a more personal approach on a range of business related issues, contact us at ABDS.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

Helping Your Business is Our Business

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