Business briefs: Homeowners in new inflation statistics | European car sales are driven down | Wallace adds a little fizz to latest results

Published on 03/11/2012 00:00

The Office for National Statistics (ONS) is to introduce a new measure of inflation next year that includes costs faced by owner occupiers.

The new index, known as CPIH, will use changes in rental prices to measure the costs of owning, living in and maintaining a property. It will be introduced in March at the same time as the ONS’s annual review of the basket of goods and services used to measure the consumer prices index (CPI).

Next month, the ONS will publish its response to a public consultation into the methods used to measure housing costs.

European car sales are driven down

The western European car market maintained its sharp descent towards levels last seen nearly 20 years ago as consumers worried about unemployment and eurozone austerity shunned dealerships in October.

Industry data published yesterday showed that France saw its 12th straight monthly decline in car registrations, while demand in Spain continued to plummet.

Germany saw an increase of 0.5 per cent, but take away two extra working days in October, its meagre growth transforms into a decline.

Wallace adds a little fizz to latest results

DRINKS wholesaler Wallaces Express has overcome a tough economic climate to post a modest rise in full-year profits.

Newly-filed accounts show that the Irvine-based company generated a profit before tax of just over £3 million in the year to 31 March, compared with £2.9m a year earlier. Turnover dipped to £82.7m from £84.3m.

The directors’ report stated: “With prudent management and purchasing policies, the company has been able to improve the gross profit percentage. This has minimised the effect of the reduction in turnover.”