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News - 18 June 2014

UK inflation falls again in May
New figures from the Office of National Statistics from their Consumer Price Index shows that the annual inflation rate was 1.5% in May compared with 1.8% in April, the sixth consecutive month that inflation has been below the Bank of England's 2% target.
Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The rate of inflation, as measured by the Retail Prices Index (RPI) also shows a drop, falling  to 2.4% in May from 2.5% in April. Prices, however, are still increasing faster than average earnings, which rose 0.7% in the three months to April.”
 
Transportation costs are seen as the main contributing factor in this drop, with the Easter break, which was in April this year, and lower rises in the costs of food and drink also helping to drive down the rate of inflation as tough competition among supermarkets drove down prices.
 
Separate figures from the Office for National Statistics showed that UK house prices leapt by 9.9% in the 12 months to April to reach a new high of £260,000.
 
If you need any help and advice on Business Financial Planning and Development, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your Business planning.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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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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