UK July inflation data now out 15 Aug
- 0.0% prev
- yy 2.6% vs 2.7% exp vs 2.6% prev
- core CPI yy 2.4% vs 2.5% exp vs 2.4% prev
- CPIH yy 2.6% vs 2.7% exp vs 2.6% prev
- RPI mm 0.2% vs 0.1% exp vs 0.2% prev
- yy 3.6% vs 3.5% exp/prev
- retail price index 272.9 vs 272.5 exp vs 272.3 prev
- RPI ex mortg yy 3.9% vs 3.7% exp vs 3.8% prev
- PPI output mm NSA 0.1% vs 0.0% exp/prev
- yy 3.2% vs 3.1% exp vs 3.3% prev
- PPI input mm NSA 0.0% vs 0.4% exp vs -0.3% prev
- yy 6.5% vs 6.9% exp vs 10.0% prev
- HPI yy 4.9% vs 4.3% exp vs 5.0% prev revised up from 4.7%
Seems the pre-release CPI expectations/leaks were on the money.
- price of motor fuel continued to fall and provided the largest downward contribution to change in the rate between June 2017 and July 2017.
- this was offset by smaller upward contributions from a range of goods and services, including clothing, household goods, gas and electricity, and food and non-alcoholic beverages.
GBPUSD down to 1.2910 but demand expected into 1.2900 with firmer PPI output helping to support but PPI input is at 12 month lows.
EURGBP up to test 0.9100 where large-ish option expiry interest should help cap/limit rallies.
Full reports from the ONS here
UK CPI mm
