UK CPI grew by 0.5%

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Tuesday, Jan 13 2015

The Consumer Prices Index (CPI) grew by 0.5% in the year to December 2014, down from 1.0% in November. Analysts were anticipating increase by 0.7%. The main contributions to the fall came from the December 2013 gas and electricity price rises falling out of the calculation and the continuing drop in motor fuel prices.

Total input prices fell 2.4% between November and December, compared with a fall of 0.7% between October and November. This was in line with market forecasts.The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 10.7% in the year to December, compared with a fall of 8.2% in the year to November.

After the data Sterling was pushed down and is currently being traded around 1.5070 level. Pair is likely to find support around 1.5030 area, and resistance above 1.5150 level. Later today, in the US session, JOLTS Job Openings figures are scheduled for a release.

More in this category: « China's trade balance showed surplus of $49.61 billion JOLTS Job Openings at almost 5.0 million »

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