Howard Archer Harp Quotations

The limited correction in the Halifax house price index in January following the marked rises during the latter months of 2005 reinforces our strong doubts that house prices will see sustained sharp rises over the coming months.

Consumer confidence held up relatively well in February, following January's sharp bounce.

The fall in headline annual producer output price inflation in March was primarily due to base effects reflecting the particularly sharp rise in producer prices a year ago as oil prices surged.

The Nationwide data provides support for our long-held view that house prices will be unable to sustain sharp gains for some time to come.

The Bank of England will be pleased to see that producer output prices remained largely contained in December, but less good news is the further sharp increase in input prices as gas prices soared.