Latest data released by ONS - 15 July 2020

  • Prior +0.5%
  • Core CPI +1.4% vs +1.2% y/y expected
  • Prior +1.2%

Slight delay in the release by the source. The good news is that price pressures have rebounded a little last month, with the core inflation reading also ticking higher.

However, they remain well off levels the BOE would like and that would keep the central bank on their toes. But at least this should buy some time for policymakers to maintain their wait-and-see approach if the trend keeps up in the coming months.

Some other details on the day as producer price and retail price figures are released:

  • PPI output +0.3% vs +0.3% m/m expected
  • PPI output -0.8% vs -1.1% y/y expected
  • PPI input +2.4% vs +3.0% m/m expected
  • PPI input -6.4% vs -6.5% y/y expected
  • RPI +0.2% vs +0.2% m/m expected
  • RPI +1.1% vs +1.1% y/y expected