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Report
from the UK
Bank of England sees sharp inflation drop
The UK consumer price inflation rose to 3.1% in March from 2.8% in February. It was boosted by higher food,
furniture and petrol prices. The Retail Price Index (RPI) headline rate was 4.8%. The Governor of the Bank of
England was required to explain the reasons behind these rises to the Government in a formal letter. He indicated
that there should be a ¡°sharp¡± decline of inflation over the next 4 to 6 months. The Bank is determined to bring
inflation back to the 2% target set by the Chancellor.
Retails sales slow down amid firm house market
Retail sales growth slowed in March, after a strong run in February, as retailers raised prices, according to the Office
of National Statistics. Financial analysts warned that weaker demand in the shops was unlikely to stop the Bank
of England from raising interest rates early next month. An influential forecast group is worried about the risks all
sections of the economy are taking with borrowing. The Item Club, organised by Ernst and Young, said people
were overly relaxed about risk and were spending too much. Consumers are all skating on thin ice, according to
the Club. In contrast, the house market remains strong for the moment but some estate agents are becoming edgy
about the future. The construction industry continues to prosper in spite of higher interest rates as the demand for
new houses remains firm.
Meanwhile, Plimsoll Publishing Ltd, a company providing comprehensive financial assessment and analysis of over
300 industries, including the timber trade, has reported that more than 50 companies could be targets for
takeovers, while some others are likely to be sold off as ¡°ageing owners¡± come to the end of the working lives.
Timber depicted as the most sustainable material
Timber was described as the most sustainable construction material over steel, concrete, masonry and PVCu at 'The
Great Materials Debate' at Ecobuild, the UK¡¯s sustainable design and construction event. The UK Timber Research
and Development Association (Trada) made a background presentation on the topic at the event. Trada highlighted
several environmental advantages: sustainable production (carbon fixing and from growingly certified sources),
more efficient manufacturing processes (minimum waste),
energy efficient uses, beautiful and strong applications and recyclable (reuse or as bio-fuel). Trada¡¯s
presentation was backed by Eurban Construction, who shared the company¡¯s experience in using
engineered timber products manufactured from small section timber. Eurban¡¯s panels
are manufactured from certified timber, grown in sustainably managed forests and used to construct
buildings that are not only energy efficient, but also sustainable from start to finish.
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