UK June CPI 0.0% vs 0.0% m/m expected
Latest data released by ONS - 17 July 2019
- Prior +0.3%
- CPI +2.0% vs +2.0% y/y expected
- Prior +2.0%
- Core CPI +1.8% vs +1.8% y/y expected
- Prior +1.7%
The figures are in-line with expectations as ONS notes that motor fuel prices fell on the month but rose relative to a year ago, helping to offset the decline in clothing prices. That's resulted in the flat reading on the month with the core reading a tad higher relative to May.
The details of the producer prices below aren't that well though with the output price seen only rising by 1.6% y/y - the smallest increase since September 2016. Meanwhile, input prices fell by 0.3% y/y and that marks the first annual decline since June 2016.
Nonetheless, the focus is on the CPI figures and the readings here offer little to shift the dial in current pound sentiment. GBP/USD holds steady at 1.2405 now after recovering from a drop to 1.2382 at the start of the session.
Some other details on the day as producer price and retail price figures are released:
- PPI output -0.1% vs +0.1% m/m expected
- PPI output +1.6% vs +1.7% y/y expected
- PPI input -1.4% vs -0.5% m/m expected
- PPI input -0.3% vs +0.3% y/y expected
- RPI +0.1% vs +0.1% m/m expected
- RPI +2.9% vs +2.9% y/y expected
- May HPI +1.2% vs +1.3% y/y expected
- Prior +1.4%; revised to +1.5%