Latest UK inflation now hitting the wires

  • 0.0% prev
  • yy +0.1% vs 0.0% exp/prev
  • core CPI yy +1.2% vs +0.9% exp vs +0.8%
  • RPI mm -0.1% vs -0.1% exp vs +0.2% exp
  • yy 1.0% vs +1.0% exp/prev
  • RPI ex mortg int payments yy 1.1% vs 1.0% exp vs +1.1% prev
  • ONS house price index +5.7% vs +5.6% prev rev down from +5.7%

Stronger than expected headlines and core CPI give GBP a quick ramp higher

  • A smaller fall in clothing prices on the month compared with a year ago was the main contributor to the rise in inflation
  • Falling prices for food and non-alcoholic beverages partially offset the rise.
  • CPIH (not a National Statistic) grew by 0.4% in the year to July 2015, up from 0.3% in June 2015.

Full ONS release here

GBPUSD testing offers at 1.5650 but now back to 1.5635

Wait for 2nd wave to see if we can break higher still

UK Core CPI MM