EEF blog

Insights into UK manufacturing

Felicity Burch August 20, 2010 09:47

↓ CPI	CPI annual inflation was 3.1% in July, down from 3.2% in June. Falling transport costs exerted the largest downwards pressure on CPI, particularly driven by a fall in the cost of second-hand cars. The price of clothing and footwear also fell significantly. The largest upward pressures to the change in CPI annual inflation between June and July came from food prices, particularly vegetable prices. In the year to July, RPI inflation was 4.8%, down from 5.0% in June.
↑ EEF Pay Bulletin	The three-month average pay settlement was 1.9% in July, up again from 1.6% in June and the highest reading since December 2008. The proportion of pay deals between 0.0% and 2.0% fell to 33.6% in the three months to July from 38.8% in the three months to June. However, the proportion of pay deals between 2.0% and 3.0% rose by 6.5 percentage points to 34.5% from 28.0% in June. The monthly average pay settlement rose to 1.9% in July, compared with a revised figure of 1.8% in June.
↑ Public Sector Finances	Public sector net debt (excluding financial interventions) was £816.2 billion (56.1% of GDP) at the end of July 2010. This compares with £665.1 billion (47.7% GDP) at the end of July 2009.
↑ Retail Sales	Core retail sales rose by 0.9% in the month to July, following a 1.8% month on month rise in non-food sales.
The week ahead Fri 27^th: Index of services