UK November inflation report 13 Dec

  • +0.1% prev
  • yy +1.2% vs 1.1% exp vs +0.9% prev
  • Core CPI yy +1.4% vs +1.3% exp vs +1.2% prev
  • RPI mm +0.3% vs +0.2% exp vs 0.0% prev
  • yy 2.2% vs 2.1% exp vs 2.0% prev
  • RPI 265.5vs 265.4 exp vs 264.8 prev
  • RPI ex-mortgage yy 2.5% vs 2.3% ex vs 2.25 prev
  • PPI input mm NSA -1.1% vs -0.5% exp vs +4.5% prev revised down from 4.6%
  • yy NSA 12.9% vs 13.5% exp vs 12.4% prev rev up from 12.2%
  • PPI output mm NSA 0.0% vs 0.2% exp vs +0.7% prev rev up from +0.6%
  • yy NSA 2.3% vs 2.5% exp vs 2.1% prev
  • PPI output core mm NSA 0.0% vs 0.2% exp vs 0.5% prev rev up from 0.4%
  • yy NSA 2.2% vs 2.3% exp vs +2.0% prev rev up from 1.9%
  • HPI yy 6.9% vs 7.3% exp vs 7.0% prev rev down from 7.7%

Core and YY CPI uptick sees GBPUSD rise to 1.2712 but falling back to 1.2692 as sellers seize on the range -trading opportunity on softer tones to PPI and HPI

EURGBP finding support into 0.8350 but not rallying so we may have a second wave of GBP demand coming on.

ONS says:

The rate in November was the highest since October 2014, when it was 1.3%.

Rises in the prices of clothing, motor fuels and a variety of recreational and cultural goods and services, most notably data processing equipment, were the main contributors to the increase in the rate.

These upward pressures were partially offset by falls in air and sea fares.

More on all the above data here