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UK CPI increased by 0.3%

Tuesday, Jun 14 2016
The Consumer Prices Index (CPI) rose by 0.3% in the year to May 2016, unchanged from April. This continues the position seen since the beginning of the year of a rate which is a little above zero. With the exception of March, when the rate was influenced by the timing of Easter, headline inflation has been 0.3% for all months of 2016.
Rises in transport costs, restaurant and hotel bills and the price of telecommunication services were the main upward contributors to change in the rate.These upward pressures were offset by falls in the price of clothing, food and games, toys and hobbies. Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.5% in the year to May 2016, unchanged from the year to April 2016.
 
The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 3.9% in the year to May 2016, compared with a fall of 7.0% in the year to April 2016. Core input prices, which exclude purchases from the more volatile food, beverage, tobacco and petroleum industries, fell 1.5% in the year to May 2016, compared with a fall of 2.1% in the year to April 2016.
 
Sterling is currently being traded few points above 1.4130 level. Pair is likely to find support around 1.41 handle and resistance above 1.42 level. Later today, in the US session, Retail Sales figures are scheduled for a release.
More in this category: « NAB Business Confidence eased to +3 index points in May Eurozone Industrial Production rose by 1.1% »

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