Tay Tay keeps Britain on target, maybe
We did it, Britain — we kept CPI on target! This one’s for the international tourers… . . . the multi-buy-offer ignorers… . . . the small mammal adorers… . . . the targeting core-ers. Thank you, Britain. MainFT: Underpinning the stronger-than-expected reading was one key thing: hotels. On the CPIH measure, which includes homeowners’ costs, prices for hotels and restaurants were up 0.9 per cent in a month, compared with a 0.5 per cent increase over the same month a year ago.
What is going on with hotel prices? The category keeps registering chunky rises, despite substantially more sober signals from companies: Compare and contrast with the word from Whitbread, owner of Premier Inn, which represents more than a tenth of the UK hotel market and presumably has the pricing power to reflect that. In a trading update last month, they said room prices were down year-over-year: Why is the ONS producing such a different picture to the real world? Let’s look at their numbers.
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