The Markets

Much like school children trying to capture the attention of someone they have a crush on, the economy sent lots of mixed signals last week.

The Consumer Prices Index (CPI) grew by 2.4% in the year to April 2013, down from 2.8% in March.  By far the largest downward contribution came from transport costs (notably motor fuels and air fares).  The only notable upward contribution came from price movements for food & non-alcoholic beverages.  This is the first time that the growth in inflation has slowed since Autumn 2012. Over the last six months, the CPI 12-month rate has been particularly stable.

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