UK producer price index data now out for July
- prev -1.8% revised down from -1.3%
- yy nsa -12.4% vs -12.7% exp vs -13.1% prev rev down from -12.6%
- output mm nsa -0.1% as exp vs -0.1% prev rev down from 0.0%
- yy nsa -1.6% vs -1.5% exp vs -1.6% rev down from -1.5%
- output core mm nsa +0.1% vs 0.0% exp/prev
- yy nsa +0.3% vs +0.2% exp vs +0.1% prev
Better than expected headline but lower revisions for these readings
The price of goods bought and sold by UK manufacturers, as estimated by the PPI, continued to fall in the year to July 2015. Crude oil continued to drive down input prices, feeding through to a drop in output prices of petroleum products.
Factory gate prices (output prices) for goods produced by UK manufacturers fell 1.6% in the year to July 2015, unchanged since May 2015.
Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.3% in the year to July 2015, compared with 0.1% last month.
The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 12.4% in the year to July 2015, up from a fall of 13.1% in the year to June 2015.
Core input prices, which exclude the more volatile food, beverage, tobacco and petroleum products fell 4.9% in the year to July 2015, compared with a fall of 4.7% in the year to June 2015.
Full ONS release here
GBPUSD enjoying the ride still and second wave buying has taken it through 1.5650. Key res/offers around 1.5700 now casting a shadow again
EURGBP down to 0.7069 with decent demand between 0.7050-60
