UK producer price index April data report 17 May 2016
- +2.2% prev revised up from 2.0%
- yy NSA -6.5% vs -6.7% exp vs -6.1% prev revised up from -6.5%
- output mm NSA +0.4% vs +0.2% exp vs +0.3% prev
- yy NSA -0.7% vs -0.8% exp vs -0.9% prev
- core output mm NSA +0.2% vs +0.1% exp/prev
- yy NSA +0.5% vs +0.3% exp/prev revised up from +0.2%
Mixed bag of data but focus on the softer CPI readings
Say the ONS:
- The price of goods bought and sold by UK manufacturers, as estimated by the producer price index, continued to fall in the year to April 2016.
- Factory gate prices (output prices) for goods produced by UK manufacturers fell 0.7% in the year to April 2016, compared with a fall of 0.9% in the year to March 2016.
- Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.5% in the year to April 2016, compared with a rise of 0.3% in the year to March 2016.
- The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 6.5% in the year to April 2016, compared with a fall of 6.1% in the year to March 2016.
- Core input prices, which exclude purchases from the more volatile food, beverage, tobacco and petroleum industries, fell 1.7% in the year to April 2016, compared with a fall of 2.7% in the year to March 2016.
Full report from the ONS here.
GBPUSD falls to 1.4475 after holding the strong 1.4530 area I highlighted earlier/previously. Ditto EURGBP at 0.7800 and now 0.7827. GBPJPY 158.60 after holding 159.00
