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Will UK inflation hit 6% this year?

Settled as No

UK inflation rates actually declined over the last two months of the year, ending up at a 3.1% annual rate for December, down from 4.1% in November.

"Consumer price inflation dropped sharply in December to an annual rate of 3.1% from November's figure of 4.1%."
http://news.bbc.co.uk/2/hi/business/7839023.stm

Background:

Question created by
Background: Inflation soared in the UK in September after gas and electricity price hikes.

The Consumer Prices Index (CPI) reached 5.2 per cent - the highest CPI reading since 1997 and a 16-year historical inflation peak.

But will it go higher and reach 6% by the end of December?

http://www.independent.co.uk/news/business/news/energy-prices-push-inflation-to-52pc-960477.html

Settlement details:As reported by The Independent.

 
Forecast history %
Yes
4%
No
96%
Settled as No on Thu 22nd Jan 5:56am PST

Suspend date: Wed 31st Dec 2008 3:59pm PST
Settlement date: Thu 22nd Jan 5:56am PST
Prediction cut-off: Predictions on this question after Wed 31st Dec 2008 3:59pm PST have been voided because they were made after the question could be settled

Initial likelihoods: Yes: 50%

Action history:

Created Tue 14th Oct 2008 1:36am PST by theindependent
Suspended Wed 31st Dec 2008 3:59pm PST : Suspend date reached
Settlement requested Thu 1st Jan 5:14am PST by orlin: No.
Settlement requested Mon 5th Jan 5:08am PST by hobbstacle: I want my money back! ;o)
Settlement requested Tue 20th Jan 2:14am PST by keyeshoveden[Power User]: http://news.bbc.co.uk/1/hi/business/7839023.stm

I htink you can settle as no.
Settlement requested Tue 20th Jan 3:17am PST by orlin: And as per settlement details, reported by The Independent:
3.1% annual rate of the UK inflation.

http://www.independent.co.uk/news/business/news/inflation-falls-sharply--but-less-than-expected-1451605.html
Settlement requested Tue 20th Jan 6:40am PST by madbuns: As reported on 20 Jan 2009 by the UK government, December inflation was 3.1%, lower than the 6.0% proposed by the question, making the answer no.

"http://www.statistics.gov.uk/cci/nugget.asp?ID=19"
Settlement requested Tue 20th Jan 10:28am PST by ianochaye: Announced as 3.1%

http://www.statistics.gov.uk/cci/nugget.asp?ID=19
Settlement requested Thu 22nd Jan 3:42am PST by keyeshoveden[Power User]: Did I send you a link for this? Do you need anything else? Ian
Settled as 'No' Thu 22nd Jan 5:56am PST by bayoubear[Admin]: UK inflation rates actually declined over the last two months of the year, ending up at a 3.1% annual rate for December, down from 4.1% in November.

"Consumer price inflation dropped sharply in December to an annual rate of 3.1% from November's figure of 4.1%."
http://news.bbc.co.uk/2/hi/business/7839023.stm

Suspend date: Wed 31st Dec 2008 3:59pm PST
Settlement date: Thu 22nd Jan 5:56am PST
Prediction cut-off: Predictions on this question after Wed 31st Dec 2008 3:59pm PST have been voided because they were made after the question could be settled details

 

Predictions (235)

46 weeks ago
andrewpmk predicted No (H$100 at 96%)
46 weeks ago
madbuns predicted No (H$126 at 96%)
46 weeks ago
chris[Admin] predicted No (H$2,038 at 95%)
47 weeks ago
joeaverage predicted No (H$100 at 95%)
48 weeks ago
ianochaye predicted No (H$2,000 at 94%)

Comments (5)

  1 lesley[Admin]
After today's interest rate cut, inflation must surely decrease soon. http://news.bbc.co.uk/1/hi/business/7713127.stm.
posted 1 year ago
  2 skipper
famous last words, Lesley ;)
posted 1 year ago
Isn't inflation when there is "too much money chasing too few products?" Lowering the interest rate will increase the money available... I hope something happens to increase the supply of goods too, or this may not help inflation.
posted 1 year ago
@ notable

I take macroeconomics... and your comment just made me realize how much adderall i will need to pass this final....
posted 50 weeks ago
  5 bayoubear[Admin]
Results needed to settle this question may not be available until about mid-January...

Will settle on the basis of December data when available

Will remain suspended until then...
posted 46 weeks ago

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