UK August CPI 0.2% vs +0.0% y/y expected
ONS - 16 September 2020
- Prior +1.0%
- Core CPI 0.9% vs +0.5% y/y expected
- Prior +1.8%
Delay at source.
The headline reading shows a firmer than expected figure at 0.2% vs 0.0% expected. Office for National Statistics said that largest contributor for inflation came from recreation and leisure. Downward pressure came from the UK's 'eat out to help out scheme'. A scheme that helped restaurants stay afloat as they fed the middle classes for a discount. Other downward pressure came from falling airfares.
Some other details on the day as producer price and retail price figures are released:
- PPI output 0.0% vs +0.2% m/m expected
- PPI output -0.9% vs -0.7% y/y expected
- PPI input -0.4% vs 0.2% m/m expected
- PPI input -5.8% vs -5.3% y/y expected
- RPI -0.3% vs -0.3% m/m expected
- RPI 0.5% vs +0.6% y/y expected