CPILW rose significantly to 1.5% in April from 0.8% in March. The official CPIH measure of inflation also rose significantly to 1.6% from 1.0% the previous month. The gap between the official measure and the measure using lockdown weights has remained small but positive. This contrasts with the months prior to December 2020, when CPIH was less than CPILW, indicating that the official measure tended to understate inflation in that period.
Renato Giacon; Principal Counsellor, EU Affairs, Policy and Partnerships Vice Presidency, at the European Bank for Reconstruction and Development
Corrado Macchiarelli; Research Manager for Global Macroeconomics at NIESR
This post was originally published on the LSE blog EUROPP - European Politics and Policy
The launch of a series of insight pieces by the National Institute of Economic and Social Research (NIESR) on the contours of a new fiscal framework for the United Kingdom has important implications for investment, productivity and sustained growth – not only for the UK but also for other countries. The economic recovery from the pandemic and the transition to a net-zero economy places a gigantic demand on sound fiscal policies around the world.
Swapan Pradhan of the BIS and I begin by looking at bonds as an asset. The striking fact is that over the past 20 years there has been an explosion in global investor demand for bonds denominated in the main currencies – dollars, euros and sterling.
The impact of Covid-19 on the education sector is well documented. Schools experienced partial closures due to national lockdown for the first time in March 2020, with a second round of partial closures from January to March 2021. With schools now open to all pupils, the focus is on how to recover from this disruption. Unsurprisingly, the bulk of the narrative in the media and policy recommendations focuses on the impact of school closures on children, with talk of learning loss, and “catch-up” plans. Disappointingly, the impact on teachers and ways to support them moving forward has be
CPILW fell to 0.8% in March from 0.9% in February. The official CPIH measure of inflation rose significantly to 1% from 0.7% the previous month. The increase in inflation captured by CPIH may therefore be misleading, as it puts too large a weight on those sectors driving the increase.
The importance of evidence when making decisions about the implementation of services is now well understood. What Works organisations such as the Education Endowment Foundation and the Early Intervention Foundation place evidence at the heart of their work as a means of distinguishing between programmes that work and those that do not.
There have been few occasions for optimism in the year since the UK has had to confront the Covid-19 pandemic. This time last year we had just entered the first national lockdown, after a delay which NIESR estimates might have doubled the number of lives lost.
The CPILW inflation remained at 0.9% for February, unchanged from January. The CPIH measure of inflation fell slightly from 0.9% in January to 0.7% in February. Whilst the headline CPILW inflation was constant to the first decimal place, to two decimal places there was also a slight decrease from 0.91% to 0.86%.