Sales season on summer clothing keeping inflation rates stable in the UK

Sales season on summer clothing keeping inflation rates stable in the UK

Published On: August 11th, 2018

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By: Sarah Amr

A decline in summer clothes prices; especially in the men’s section, steadied the inflation rate at 2.4% in June which, according to the Office for National Statistics’ (ONS), marks the third consecutive month. Consumer Price Index (CPI) was expected to go up to 2.6% in the same month whereas the British Pound witnessed a 0.60% drop against the USD registering 1.3037.

Summer Sales

The Office for National Statistics’ (ONS) declared that the prices for commodities such as clothes and shoes have declined with a rate of 2.6% in May and June in comparison to a decline of 1.1% of the same period last year. According to the Office for National Statistics’ (ONS), the decline of prices is expected during this time of year due to the summer sales season; however, this decline was the largest since the year 2012.

Computer games also witnessed a decline in prices with a 0.4% rate in May and June. However, according to the Office for National Statistics’ (ONS), the prices of computer games depend significantly on best-selling charts, which often lead to major monthly fluctuations in prices.

Gas prices

In terms of gas prices, there was a 2.7 pence rise in prices for every litre, costing 128 pence in May and June 2018. This was the highest price average attained since September 2014. Furthermore, diesel prices also rose 2.9 pence reaching 132.1 pence. In comparison, petrol and diesel prices both dropped in the same period between May and June, last year.

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