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Does this include pump prices for fuel?

• desas 11y ago
  Yes. The ONS maintain an infographic for how they calculate CPI at http://www.ons.gov.uk/ons/infographics/how-cpi-is-calculated/index.html http://www.ons.gov.uk/ons/infographics/how-cpi-is-calculated...
  • JupiterMoon 11y ago
    Well that accounts for the fall then. Pump prices have come down. (Let's not get into whether they've come down in line with world fuel prices.)
• gerty 11y ago
  This. Zero (or negative inflation) today is mostly due to lower oil prices and slower increase, even decrease, in non-processed food prices (at least it's the case in parts of continental Europe). Core inflation, which excludes volatile stuff, in the UK is 0.8%. Although slowly decreasing, it's still well above 0%. Core inflation is here the number that matters.
  • fulafel 11y ago
    Both (core and straight inflation) numbers matter, they have different uses. Food and energy costs are important parts of inflation. For some uses it can be interesting to exclude these, yielding an approximation of the inflation with less volatility. Oil prices for example have been coming down long enough that it's not noise re economic effects any more, so it would be bad to exclude the effect of cheaper oil.