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UK CPI up more than expected

Tuesday, Dec 13 2016
UK CPI up more than expected

The Consumer Prices Index (CPI) rose by 1.2% in the year to November 2016, compared with a 0.9% rise in the year to October. The rate in November was the highest since October 2014, when it was 1.3%. Rises in the prices of clothing, motor fuels and a variety of recreational and cultural goods and services, most notably data processing equipment, were the main contributors to the increase in the rate. These upward pressures were partially offset by falls in air and sea fares.

Factory gate prices (output prices) for goods produced by UK manufacturers rose 2.3% in the year to November 2016, compared with an increase of 2.1% in the year to October 2016. Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 2.2% in the year to November 2016, the largest increase since February 2012.

 

Sterling is currently being traded around 1.2680 handle. Pair is likely to find support around 1.26 area and resistance above 1.2750 level.

More in this category: « China's Industrial Production increased by 6.2% German ZEW Economic Sentiment unchanged in December »

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