UK CPI rose by 0.5% in June

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Tuesday, Jul 19 2016

The Consumer Prices Index (CPI) rose by 0.5% in the year to June 2016, compared with a 0.3% rise in the year to May. The June rate is a little above the position seen for most of 2016, though it is still relatively low historically. Rises in air fares, prices for motor fuels and a variety of recreational and cultural goods and services were the main contributors to the increase in the rate. These upward pressures were partially offset by falls in the price of furniture and furnishings and accommodation services. The price of goods bought and sold by UK manufacturers, as estimated by the Producer Price Index, continued to fall in the year to June 2016.

Factory gate prices (output prices) for goods produced by UK manufacturers fell 0.4% in the year to June 2016, compared with a fall of 0.6% in the year to May 2016. Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 0.7% in the year to June 2016, compared with a rise of 0.6% in the year to May 2016. The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 0.5% in the year to June 2016, up from a fall of 4.4% in the year to May 2016.

Sterling is currently being traded few points above 1.3180 level. Pair is likely to find support around 1.3130 handle and resistance above 1.3250 level.

More in this category: « RBA waiting for next inflation reports ZEW Economic Sentiment declined more than expected »

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