15 May 2001, 13:08  UK April all-items RPI up 1.8 pct yr-on-yr; RPI-X up 2.0; RPI-Y up 2.2

LONDON (AFX) - The UK retail price index rose 0.5 pct in April for a 1.8 pct year-on-year increase, National Statistics said.
The AFX News median of analysts' forecasts was for February RPI to have risen 0.5 pct on the month for a 1.8 pct year-on-year rise.
NS said the largest upward efect on the all items 12-month rate came from from fuel and light due to increases in gas prices compared to falls in charges and tariffs a year ago.
Another upward effect came from leisure services due to increased TV fees amd subscription to cable TV as well as from seasonal food prices.
NS said the 14.5 pct annual rise in seasonal food prices is the highest since January 1947.
The biggest downward effect arose from changes in housing costs where Mortgage Interest Relief at Source (MIRAS) dropped out of the index having been abolished in April 2000.
Another downward effect came from tobacco and changes in price for clothing and footwear.
NS said the 5.4 pct annual fall in clothing and footwear prices was the lowest since records began in June 1947.
Underlying inflation RPI-X (RPI excluding mortgage interest payments) -- the measure of inflation targeted by the Bank of England -- was up 0.7 pct in April for a year-on-year increase of 2.0 pct. This compares with expectations for a 0.6 pct month-on-month rise and a 1.8 pct annual gain.
April RPI-Y, RPI excluding mortgage interest payments, indirect taxes and excise duties, was up 0.5 pct on the month, for a year-on-year increase of 2.2 pct.
RPI-Y was forecast to have risen 0.5 pct on the month for a 2.0 pct year-on-year increase.
The EU harmonised consumer price index (HICP) rose to 106.7 in April from 106.1 in the previous month, leaving the annual rate of increase at 1.1 pct, up from 1.0 in March.
A further breakdown of the data revealed that goods prices increased by 0.1 pct over the month, for a -0.1 pct year-on-year decline.
In contrast, the price of services, which were up 1.1 pct on the month, rose 2.8 pct on a year-on-year basis.

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