{"id":1124,"date":"2013-04-18T12:02:38","date_gmt":"2013-04-18T12:02:38","guid":{"rendered":"https:\/\/www.citylets.co.uk\/blog\/?p=1124"},"modified":"2013-06-18T12:26:41","modified_gmt":"2013-06-18T12:26:41","slug":"average-monthly-rents-are-not-keeping-pace-with-inflation","status":"publish","type":"post","link":"https:\/\/www.citylets.co.uk\/blog\/average-monthly-rents-are-not-keeping-pace-with-inflation\/","title":{"rendered":"Average monthly rents are not keeping pace with inflation at national level"},"content":{"rendered":"<p>Earlier this week it was announced by the Office for National Statistics (ONS)\u00a0that the Consumer Prices Index (CPI) measure of inflation remained at 2.8 per cent in March, the same as it had been in February.\u00a0Rises in inflation for audio-visual equipment and books, newspapers and stationery were offset by downward trends in furniture and furnishings, motor fuels and meat.<\/p>\n<p>This overall inflation figure remains well above the two per cent target set by the Bank of England&#8217;s Monetary Policy Committee (MPC) and experts predict UK inflation will reach three per cent at some point this year. In this context it is worth noting that average rent levels have certainly not risen at the same pace.<\/p>\n<p>In the forthcoming Citylets\u00a0report for Q1 2013 we see that average rents for Scotland are up by just 1.7% on the year which is well below the latest CPI figure. \u00a0This is the overall national picture but interestingly all the major urban \u00a0markets \u00a0have seen above inflation rent increases.\u00a0Our simple advice is to treat any stories that you\u00a0read\u00a0about runaway rent increases with a pinch of salt, unless of course you hear them from us.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1255\" alt=\"cl-index-vs-cpi\" src=\"https:\/\/www.citylets.co.uk\/blog\/wp-content\/uploads\/2013\/04\/cl-index-vs-cpi.png\" width=\"575\" height=\"377\" srcset=\"https:\/\/www.citylets.co.uk\/blog\/wp-content\/uploads\/2013\/04\/cl-index-vs-cpi.png 575w, https:\/\/www.citylets.co.uk\/blog\/wp-content\/uploads\/2013\/04\/cl-index-vs-cpi-400x262.png 400w\" sizes=\"auto, (max-width: 575px) 100vw, 575px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this week it was announced by the Office for National Statistics (ONS)\u00a0that the Consumer Prices Index (CPI) measure of inflation remained at 2.8 per cent in March, the same as it had been in February.\u00a0Rises in inflation for audio-visual equipment and books, newspapers and stationery were offset by downward trends in furniture and furnishings, &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3,1,111],"tags":[],"class_list":["post-1124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-citylets-quarterly-reports","category-property","category-research-2","citylets-quarterly-reports","property","research-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - 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