UK CPI at the record low

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Tuesday, Feb 17 2015

The rate of inflation faced by households has fallen to its lowest level on record. The Consumer Prices Index increased by 0.3% in the year to January 2015, down from 0.5% in December 2014, but in line with market forecasts. With the rate of inflation slowing, commentators are considering the possibility of deflation – where prices, overall, become cheaper than they were previously. While some prices (such as motor fuels and food) are lower than they were a year ago, others (such as clothing and furniture) are rising.

PPI Input prices missed market expectations on decline by 2.3%. Month on month, the input price measure of UK manufacturers’ materials and fuels, fell 3.7% between December 2014 and January 2015, compared with a fall of 3.3% between November and December 2014.

After it fell ahead of the data, Sterling edged higher after figures were released and is currently being traded above 1.5350 level. Pair is likely to find support around 1.53 and resistance above 1.54 handle. Later today, Empire State Manufacturing Index figures are scheduled for a release.

More in this category: « Aussie higher after RBA Meeting Minutes German ZEW Economic Sentiment rose to 53.0 in February »

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