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UK CPI fell by 0.1%

Tuesday, Nov 17 2015
The Consumer Prices Index (CPI) fell by 0.1% in the year to October 2015, the same fall as in the year to September 2015 and in line with market forecasts. Upward price pressures for clothing and footwear and a range of recreational goods were offset by downward price pressures for university tuition fees, food, alcohol and tobacco, resulting in no change to the overall rate of inflation. 
 
The price of goods bought and sold by UK manufacturers, as estimated by the producer price index, continued to fall in the year to October 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 1.3% in the year to October 2015, compared with a fall of 1.8% in the year to September 2015.
 
Sterling is currently being traded around 1.5180 area. Pair is likely to find support around 1.5150 handle and resistance above 1.5250 level. Later today, in the US session, CPI and Industrial Production figures are scheduled for a release.
Last modified on Tuesday, 17 November 2015
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