Yep it's all doom and gloom .... UK inflation fell to 1.8% in January, the lowest in two years, the Office for National Statistics said.
This is down from 2.1% the previous month.
A fall in electricity, gas and other fuels drove the decline, the ONS said.
Head of Inflation Mike Hardie said: "The fall in inflation is due mainly to cheaper gas, electricity and petrol, partly offset by rising ferry ticket prices and air fares falling more slowly than this time last year".
It means that rises in pay are now now outpacing inflation.
The rate of inflation is now below the Bank of England's 2% target and has fallen from the five-year peak of 3.1% in November 2017 in the wake of the Brexit referendum vote.
Energy prices fell because of Ofgem's energy price cap which came into effect from 1 January 2019, the ONS said.
You cant knock good news. Putting it in perspective, if this was maintained throughout the year, the difference between wage growth and inflation, means that someone earning 20k per year, is better of by £300 per year. This doesn't offset the average increase on weekly shopping, never mind the increase in mortgage payments. NPower just announced their prices are increasing by 10%, others are expected to follow. Many people still suffer from the austerity measures, which contributed to the Brexit vote.
Switzerland Chile The Faroe Islands Eastern and Southern Africa
Mutual recognition agreements - where a product lawfully sold in one country can be sold in another - have also been signed with Australia and New Zealand.
The Faroe Islands deal will probably make us all millionaires.
Trade Policy Minister, George Hollingbery signed the UK-Faroe Islands agreement in London on Thursday 31 January with Faroese Minister for Trade and Industry, Poul Michelsen.
With almost £200 million worth of fish and crustaceans brought into the UK from the Faroe Islands in 2017, this agreement will allow imports to continue tariff-free and enable businesses to trade as freely as they do now, writes Gov.uk.
‘In the last 12 months UK consumers bought the equivalent of 105 million bottles of Chilean wine with sales worth some £720 million. That amounts to about 9% of the total UK still wine sales by volume and 8% by value.’
The WSTA said the agreement would help consumers save money in the event of a no-deal Brexit.
‘Without this agreement, tariffs added to wine from Chile coming to the UK would cost industry an estimated £9.2 million.’
The deal will come into effect as soon as the implementation period ends in January 2021, or on 29 March 2019 if the UK leaves the EU without a deal.
Switzerland is a crucial market for UK goods and services. Bilateral trade between the UK and Switzerland is worth over £31.7 billion a year. The business links between Switzerland and the UK are extremely strong, with more than 150 flights per day linking the UK with Switzerland. Around 41,000 British nationals live in Switzerland, and hundreds of thousands of British tourists visit each year.
Switzerland is the UK’s 7th largest export market, its 3rd largest non-EU market, our 8th largest foreign direct investor and the 10th top destination for UK outward direct investment (according to the most recent ONS trade figures).
The benefits for UK businesses exporting to Switzerland are manifold. Switzerland’s purchasing power is amongst the world’s highest and it offers a stable, predictable and reliable business, legal and regulatory environment.
Trade Policy Minister, George Hollingbery signed the UK-Faroe Islands agreement in London on Thursday 31 January with Faroese Minister for Trade and Industry, Poul Michelsen.
With almost £200 million worth of fish and crustaceans brought into the UK from the Faroe Islands in 2017, this agreement will allow imports to continue tariff-free and enable businesses to trade as freely as they do now, writes Gov.uk.
This not a benefit of leaving, it is merely carrying on as we are now.
‘In the last 12 months UK consumers bought the equivalent of 105 million bottles of Chilean wine with sales worth some £720 million. That amounts to about 9% of the total UK still wine sales by volume and 8% by value.’
The WSTA said the agreement would help consumers save money in the event of a no-deal Brexit.
‘Without this agreement, tariffs added to wine from Chile coming to the UK would cost industry an estimated £9.2 million.’
The deal will come into effect as soon as the implementation period ends in January 2021, or on 29 March 2019 if the UK leaves the EU without a deal.
As is this. The agreement ensures that post the UK’s departure from the European Union the two countries will continue to enjoy uninterrupted and “beneficial” trading arrangements.
Switzerland is a crucial market for UK goods and services. Bilateral trade between the UK and Switzerland is worth over £31.7 billion a year. The business links between Switzerland and the UK are extremely strong, with more than 150 flights per day linking the UK with Switzerland. Around 41,000 British nationals live in Switzerland, and hundreds of thousands of British tourists visit each year.
Switzerland is the UK’s 7th largest export market, its 3rd largest non-EU market, our 8th largest foreign direct investor and the 10th top destination for UK outward direct investment (according to the most recent ONS trade figures).
The benefits for UK businesses exporting to Switzerland are manifold. Switzerland’s purchasing power is amongst the world’s highest and it offers a stable, predictable and reliable business, legal and regulatory environment.
The Department for International Trade said the agreement would maintain UK-Swiss trade under the preferential terms currently available to both countries through an EU free trade deal.
“Energy prices falling” Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better. I’d like to know if anyone’s household energy prices have fallen lately.
The UK's trade and investment relationship with Africa: 2016
This continuity agreement has been agreed as we prepare to leave the EU on 29 March. It replicates the effects of the existing EU Economic Partnership Agreement with Eastern and Southern Africa.
Brexit: UK ‘forcing poor nations into risky trade deals
Some of the world’s poorest countries are being forced to agree potentially damaging trade deals with the UK by government “threats” in the rush to Brexit, campaigners say. Liam Fox, the international trade secretary, is accused of piling pressure on developing nations to “sign up blind” – without knowing the value of the deals – with a warning they will otherwise be lost.
“Energy prices falling” Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better. I’d like to know if anyone’s household energy prices have fallen lately.
As I said earlier NPower have just announced a 10% increase this morning, others are expected to follow.
“Energy prices falling” Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better. I’d like to know if anyone’s household energy prices have fallen lately.
Note this : " Energy prices fell because of Ofgem's energy price cap which came into effect from 1 January 2019, the ONS said." Is the price of my energy bill capped?
Do price caps affect me? Price caps apply if you:
Are on a default energy tariff (including standard variable tariffs)open key term pop-up Get the government's Warm Home Discountopen key term pop-up and are on a default energy tariff. Have a prepayment energy meteropen key term pop-up.
Not everyone’s energy tariff is price capped. They don’t apply if:
You are on a fixed-term energy tariff You actively chose to sign up to a renewable energy tariff (standard variable) which Ofgem has exempted from the cap
That prob answers your question ? The part bolded directly above ^^
“Energy prices falling” Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better. I’d like to know if anyone’s household energy prices have fallen lately.
Note this : " Energy prices fell because of Ofgem's energy price cap which came into effect from 1 January 2019, the ONS said." Is the price of my energy bill capped?
Do price caps affect me? Price caps apply if you:
Are on a default energy tariff (including standard variable tariffs)open key term pop-up Get the government's Warm Home Discountopen key term pop-up and are on a default energy tariff. Have a prepayment energy meteropen key term pop-up.
Not everyone’s energy tariff is price capped. They don’t apply if:
You are on a fixed-term energy tariff You actively chose to sign up to a renewable energy tariff (standard variable) which Ofgem has exempted from the cap
That prob answers your question ? The part bolded directly above ^^
Npower is the latest major energy provider to raise bills following Ofgem’s decision to increase its industry-wide price cap. The company will hike prices by 10 per cent, a move that will affect 1 million customers on Npower’s standard variable tariff. Prepayment meter customers will also see bills increasing, by around 9 per cent on average, with the changes set to take effect from 1 April. Rik Smith, energy expert at uSwitch.com, said: “It’s third time unlucky for energy customers as another of the Big Six suppliers has announced it will be pricing up to the new cap level. “These announcements are coming like clockwork, shattering the myth that the cap is guaranteeing a good deal for customers on standard tariffs.” Npower’s announcement follows similar moves by E.On and EDF since Ofgem revealed that the energy price cap is going up. The cap, which was introduced in January at £1,137, will rise by £117 for customers on default tariffs, including standard variable tariffs on 1 April. The cap for pre-payment meter customers will also increase, by £106 to £1,242 per year. The change will affect around 15 million households.
“Energy prices falling” Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better. I’d like to know if anyone’s household energy prices have fallen lately.
Note this : " Energy prices fell because of Ofgem's energy price cap which came into effect from 1 January 2019, the ONS said." Is the price of my energy bill capped?
Do price caps affect me? Price caps apply if you:
Are on a default energy tariff (including standard variable tariffs)open key term pop-up Get the government's Warm Home Discountopen key term pop-up and are on a default energy tariff. Have a prepayment energy meteropen key term pop-up.
Not everyone’s energy tariff is price capped. They don’t apply if:
You are on a fixed-term energy tariff You actively chose to sign up to a renewable energy tariff (standard variable) which Ofgem has exempted from the cap
That prob answers your question ? The part bolded directly above ^^
Npower is the latest major energy provider to raise bills following Ofgem’s decision to increase its industry-wide price cap. The company will hike prices by 10 per cent, a move that will affect 1 million customers on Npower’s standard variable tariff. Prepayment meter customers will also see bills increasing, by around 9 per cent on average, with the changes set to take effect from 1 April. Rik Smith, energy expert at uSwitch.com, said: “It’s third time unlucky for energy customers as another of the Big Six suppliers has announced it will be pricing up to the new cap level. “These announcements are coming like clockwork, shattering the myth that the cap is guaranteeing a good deal for customers on standard tariffs.” Npower’s announcement follows similar moves by E.On and EDF since Ofgem revealed that the energy price cap is going up. The cap, which was introduced in January at £1,137, will rise by £117 for customers on default tariffs, including standard variable tariffs on 1 April. The cap for pre-payment meter customers will also increase, by £106 to £1,242 per year. The change will affect around 15 million households.
Comments
Putting it in perspective, if this was maintained throughout the year, the difference between wage growth and inflation, means that someone earning 20k per year, is better of by £300 per year.
This doesn't offset the average increase on weekly shopping, never mind the increase in mortgage payments.
NPower just announced their prices are increasing by 10%, others are expected to follow.
Many people still suffer from the austerity measures, which contributed to the Brexit vote.
With almost £200 million worth of fish and crustaceans brought into the UK from the Faroe Islands in 2017, this agreement will allow imports to continue tariff-free and enable businesses to trade as freely as they do now, writes Gov.uk.
The WSTA said the agreement would help consumers save money in the event of a no-deal Brexit.
‘Without this agreement, tariffs added to wine from Chile coming to the UK would cost industry an estimated £9.2 million.’
The deal will come into effect as soon as the implementation period ends in January 2021, or on 29 March 2019 if the UK leaves the EU without a deal.
Read more at https://www.decanter.com/wine-news/uk-chile-trade-agreement-welcomed-by-wsta-408513/#dAy4gKgpg66tbmBi.99
Switzerland is the UK’s 7th largest export market, its 3rd largest non-EU market, our 8th largest foreign direct investor and the 10th top destination for UK outward direct investment (according to the most recent ONS trade figures).
The benefits for UK businesses exporting to Switzerland are manifold. Switzerland’s purchasing power is amongst the world’s highest and it offers a stable, predictable and reliable business, legal and regulatory environment.
The UK's trade and investment relationship with Africa: 2016
The agreement ensures that post the UK’s departure from the European Union the two countries will continue to enjoy uninterrupted and “beneficial” trading arrangements.
Last week we had our yearly statement , the price to remain on the same terms increased substantially , we obviously shopped around to get a better deal, none were better.
I’d like to know if anyone’s household energy prices have fallen lately.
Some of the world’s poorest countries are being forced to agree potentially damaging trade deals with the UK by government “threats” in the rush to Brexit, campaigners say.
Liam Fox, the international trade secretary, is accused of piling pressure on developing nations to “sign up blind” – without knowing the value of the deals – with a warning they will otherwise be lost.
https://uk.news.yahoo.com/brexit-uk-forcing-poor-nations-201620864.html
Is the price of my energy bill capped?
Do price caps affect me?
Price caps apply if you:
Are on a default energy tariff (including standard variable tariffs)open key term pop-up
Get the government's Warm Home Discountopen key term pop-up and are on a default energy tariff.
Have a prepayment energy meteropen key term pop-up.
Not everyone’s energy tariff is price capped. They don’t apply if:
You are on a fixed-term energy tariff
You actively chose to sign up to a renewable energy tariff (standard variable) which Ofgem has exempted from the cap
That prob answers your question ? The part bolded directly above ^^
The company will hike prices by 10 per cent, a move that will affect 1 million customers on Npower’s standard variable tariff.
Prepayment meter customers will also see bills increasing, by around 9 per cent on average, with the changes set to take effect from 1 April.
Rik Smith, energy expert at uSwitch.com, said: “It’s third time unlucky for energy customers as another of the Big Six suppliers has announced it will be pricing up to the new cap level.
“These announcements are coming like clockwork, shattering the myth that the cap is guaranteeing a good deal for customers on standard tariffs.”
Npower’s announcement follows similar moves by E.On and EDF since Ofgem revealed that the energy price cap is going up.
The cap, which was introduced in January at £1,137, will rise by £117 for customers on default tariffs, including standard variable tariffs on 1 April. The cap for pre-payment meter customers will also increase, by £106 to £1,242 per year. The change will affect around 15 million households.
https://uk.finance.yahoo.com/news/npower-becomes-latest-energy-provider-083600652.html
The Man of the People, does it again.