–Repeats Item Transmitted At 1800 GMT Monday
–UK Petrol Prices Down 0.5% On Month In July
–Petrol To Add 0.01pp To UK July CPI y/y Change
LONDON (MNI) – Petrol prices fell for the second month in a row in
July, after eight consecutive monthly rises, but the declining cost of
petrol is having little impact on the yearly change in CPI.
Petrol prices fell 0.7% on the month in July last year and,
according to the Market News Petrol Price Index, fell 0.5% this July.
The upshot is petrol prices will add a negligible 0.01 percentage point
to the yearly change in CPI.
Headline CPI in July is expected to be little changed from June,
with analysts’ median forecast for a 4.3% outturn compared to 4.2% in
June.
The big upward effect in coming months will come from the
pre-announced hikes in domestic energy tarrifs, with petrol prices
heading in the opposite direction.
Below are the results of the MNI petrol price index:
% change m/m 2011
! Jul ! Jun ! May ! Apr ! Mar ! Feb ! Jan !
————————————————————————
MNI PETROL PRICE INDEX -0.5 -1.2 0.8 2.0 3.1 1.0 4.9
ONS FUELS/LUBRICANTS n/a -0.7 1.3 1.6 2.7 1.3 4.4
MNI Index Contribution
to CPI y/y Change 0.01 0.03 0.02 -0.1 0.01 0.01 0.11
ONS F/L Contribution
to CPI y/y Change n/a 0.05 0.04 0.1 0.0 0.02 0.09
—London Bureau; Tel: +44207 862 7491; email: drobinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,MTABLE]
