UK House Price Sentiment Rebounds In April: Knight Frank

Confidence among British households regarding the value of their homes rebounded in April, ending the downward trend seen for nearly three years, helped mainly by improved optimism regarding the governments' recently launched mortgage scheme, data from a survey by Markit Economics and Knight Frank showed Friday.

The house price sentiment index increased to 50.6 in April from 50 in March. The index moved above the no-change 50 mark - which separates growth from contraction - for the first time in thirty-four months.

"The latest survey suggests the Help to Buy scheme has boosted house price sentiment, alongside a continued improvement in mortgage availability and more concrete signs that current values are on the up," Markit senior economist Tim Moore said.

At the same time, the outlook component of the survey, showed that British households expect the value of their homes will rise over the next 12 months, and at the sharpest rate since June 2010.

The forward-looking indicator climbed to a 34-month high of 62 in April from 58.4 in March, marking the fourth successive increase. Residents of London continued to be the most upbeat about the outlook for prices, followed by those in South East and the East of England, data showed.

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2013-04-19 12:42

Brazil February Inflation Rises More Than Expected

Brazil's consumer price inflation accelerated more than economists expected in February, data released by statistical office IBGE showed Friday.

Inflation as per the consumer price index increased to 6.31 percent in February from 6.15 percent in January, while economists had forecast a more modest acceleration to 6.2 percent.

The consumer price index moved up 0.6 percent compared to January, when it rose by 0.86 percent. Economists were looking for a 0.49 percent gain, data showed.

Food and beverages prices rose at a slower pace of 1.45 percent month-on-month in February than 1.99 percent in the previous month. Housing costs dropped 2.38 percent, after falling 0.2 percent in January.

Transportation costs were higher by 0.81 percent from the previous month, and costs of wearing apparel up by 0.55 percent, data showed.

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2013-03-08 16:44

UK Output Price Inflation Slows In January

UK output price inflation eased to 2 percent in January from 2.2 percent in December, data released by the Office for National Statistics showed Tuesday.

On a monthly basis, the output price index rose 0.2 percent. Both the figures matched economists' forecasts.

Core producer price index, which exclude food, alcohol, tobacco and petroleum, rose 0.2 percent month-on-month.

Input prices increased 1.8 percent year-on-year in January, faster than a 0.5 percent increase in the previous month. This was also higher than the 1 percent rise expected by economists.

On a monthly basis, the input price index rose 1.3 percent, faster than the expected 0.9 percent increase.

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2013-02-12 14:15

U.K. Inflation Steady At 2.7%

U.K. annual inflation held steady in November at the highest level since May on increases in food and energy bills, official data showed Tuesday.

Consumer price inflation stabilized at 2.7 percent in November, figures from the Office for National Statistics revealed Tuesday. Inflation was at a 34-month low of 2.2 percent in September.

The November rate came in line with economists' expectations, but continues to hover above the 2 percent target. The highest upward impact on inflation was from food prices and utility charges, while fuel prices exerted downward pressure.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, also remained unchanged at 2.6 percent in November. The rate was forecast to rise marginally to 2.7 percent.

As inflation is set to stay between 2.5 percent and 3 percent for the best part of the next year due to increases in utility and food prices, the squeeze on households' spending power looks likely to persist throughout 2013, said Samuel Tombs at Capital Economics. Nonetheless, inflation will eventually fall to a very low rate.

IHS Global Insight's Chief UK economist Howard Archer said he expects consumer price inflation to fall to 2.2 percent by the end of 2013 and finally below 2 percent in 2014.

Month-on-month, consumer prices increased at a pace of 0.2 percent, in line with forecast, but slower than a 0.5 percent rise in October, data showed.

Retail price inflation, at the same time, slowed to 3 percent from 3.2 percent in October. Mortgage interest payments had a downward impact on the annual change.

Excluding mortgage interest payments, retail prices climbed 2.9 percent annually, down from 3.1 percent a month ago. Economists had forecast the annual rate to remain at 3.1 percent.

In a separate communique, the statistical office said factory-gate inflation slowed in November. Output price inflation fell to 2.2 percent in November from 2.6 percent a month ago. It was forecast to ease to 2.5 percent.

Meanwhile, core output price inflation that strips out food, beverages, tobacco and petroleum, held steady at 1.4 percent.

Annually, input prices slipped 0.3 percent in November after staying flat in October. On a monthly basis, the input price index edged up 0.1 percent, the same rate as seen in September and October.

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2012-12-18 16:42