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U.K. CPI unchanged in February

Tuesday, Mar 24 2015
The Consumer Prices Index (CPI) was unchanged in the year to February 2015, that is, a 12-month rate of 0.0%, down from 0.3% in January. Analysts were forecasting 0.1% increase. The main contributions to the slowdown in the rate came from price movements for a range of recreational goods (particularly data processing equipment, books and games, toys & hobbies), food and furniture & furnishings. There were no large upward effects to offset the change. 
 
PPI Input prices rose 0.2% between January and February 2015, compared with a fall of 0.4% between December 2014 and January 2015, missing forecasts on 1.6% increase. Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.2% in the year to February 2015, compared with a rise of 0.3% in the year to January 2015.
 
After the data Sterling declined and is currently being traded few points below 1.4920 level. Pair is likely to find support around 1.4850 handle and resistance above 1.50 area. Later today, in the US session, CPI and New Home Sales figures are scheduled for a release.
More in this category: « Eurozone Services PMI at a four year high U.S. CPI increased by 0.2% in February »

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