UK CPI increased by 1.0%

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Tuesday, Oct 18 2016

UK CPI increased by 1.0%

The Consumer Prices Index (CPI) rose by 1.0% in the year to September 2016, compared with a 0.6% rise in the year to August. The rate in September 2016 was the highest since November 2014, when it was also 1.0%. The main upward contributors to change in the rate were rising prices for clothing, overnight hotel stays and motor fuels, and prices for gas, which were unchanged, having fallen a year ago. These upward pressures were partially offset by a fall in air fares and food prices.

The price of goods bought and sold by UK manufacturers, as estimated by the Producer Price Index, rose again in the year to September 2016. This is the third consecutive increase following 2 years of falls and the largest increase since September 2013. Factory gate prices (output prices) for goods produced by UK manufacturers rose 1.2% in the year to September 2016, compared with a rise of 0.9% in the year to August 2016.

Sterling is currently being traded near 1.23 handle. Pair is likely to find support around 1.2250 area and resistance above 1.2330 level.

More in this category: « Aussie higher after RBA Meeting Minutes Euro little changed in a quiet European part of the session »

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