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UK inflation exceeds government's 3% limit in Aug-2010; consumer confidence rises

15-Sep-2010 2:57 PM

UK's Office for National Statistics stated UK inflation unexpectedly exceeded the government’s 3% limit for a sixth month in Aug-2010 (Bloomberg, 14-Sep-2010). Consumer prices rose 3.1% year-on-year, the same pace as in Jul-2010. Meanwhile, air transport fares increased by 16.1% from Jul-2010 to Aug-2010, a record gain for this time of year. Separately, the Nationwide Building Society stated UK consumer confidence rose in Aug-2010 for the first time in four months, with the Index of Sentiment rising 5 ppts from the previous month to 61.