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UK CPI unchanged, PPI continues to fall

Tuesday, Jul 14 2015
Prices faced by UK households were unchanged over the year to June 2015 compared with a 0.1% rise in prices in the year to May. Analysts were predicting 0.1% increase. This means that a basket of goods and services that cost £100.00 in June 2014 would have still cost £100.00 in June 2015. This continues the trend of recent months when inflation has been at or around 0.0%. The main downward push on inflation between May and June 2015 (causing it to fall slightly from 0.1% to 0.0%) came from decreases in clothing and food prices along with smaller rises in air fares than a year ago. 
 
Furthermore, input price annual inflation fell 12.6% in the year to June 2015, compared with a fall of 12.3% in the year to May 2015. Month on month, the input price measure of UK manufacturers’ materials and fuels, fell 1.3% between May and June 2015, compared with a fall of 1.1% last month. This was more than forecasted decline by 0.6%. The "narrow" input price measure fell 4.0% in the year to June 2015. In seasonally adjusted terms the price fell 0.1% between May and June 2015.
 
After the data Sterling added few points and is currently being traded few points above 1.5470 level. Pair is likely to find support around 1.5430 area and resistance above 1.5550 handle. Later today, in the US session, Retail Sales figures are scheduled for a release.
More in this category: « NAB Business Confidence at the highest level since September 2013 ZEW Economic Sentiment declined more than expected »

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