- Prior 2.2%
- 0.1% vs 0.2% exp m/m. Prior 0.1%
- Core CPI 1.8% vs 1.8% exp y/y. Prior 1.7%
Retail prices
- RPI 0.1% vs 0.1% exp m/m
- 2.6% vs 2.7% exp y/y. Prior 2.6%
- RPI ex-mortgage interest payments 0.1% vs 0.1% exp m/m. Prior 0.0%
- 2.7% vs 2.7% exp y/y. Prior 2.7%
A drop in the headline but core rises from 1.7% to 1.8%. Food and utilities lead the fall in the headline number.
Even though inflation’s fallen to a four year low the falls aren’t a problem as it’s getting back to the BOE’s target. The fact that core isn’t falling also suggests we’re not seeing a weak inflation picture like the rest of Europe. It’s a bit of a knee jerk by cable and I don’t think the figures justify it.
UK CPI 17 12 2013
