Labour hits inflation target for first time

Article Abstract:

The underlying measure of inflation in the UK fell to its 2.5% target in Jan 1998 for the first time since the Labour party took office. The drop in inflation was fuelled by the extensive price discounting which took place in the post-Christmas 1997 period. Clothing prices fell by 6.6% in Jan 1998, from 4.2% in Jan 1997, while household goods prices fell by 3.9%, from 3.6%. There are mixed views about whether lower inflation will prevent a further rise in interest rates.

Prices, Forecasts and trends, Statistics, Inflation (Finance), Interest rates, Inflation (Economics)

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Housing data boosts hopes for soft landing for economy in 1998

Article Abstract:

House price inflation in the UK will fall to around 5% in 1998 and 4% in 1999, from 6% in 1997, according to Halifax, the country's largest mortgage lender. Statistics indicating that the number of UK businesses going bankrupt fell in 1997 to the lowest level since 1990 have also given reason to hope that the economy will experience a gentle slow-down. Some 1.45 million homes were sold in 1997, a significant rise from the 1995 low of 1.1 million.

Finance, House buying, Home buying

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Time for the Chancellor to start thinking constructively

Article Abstract:

The government's plan to regenerate the economy could be demonstrated by sanctioning the construction of a new main-line railway but it could not be executed until 1994 or 1995. The financing and planning systems of such important projects should be overhauled to enable faster implementation. Faster public investments would be maintenance of council housing, schools, hospitals and roads, which could occupy 450,000 unemployed building workers.

Construction industry, Planning, Public works

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