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UK CPI unchanged in January

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in January 2018, unchanged from December 2017. The largest downward contribution to change in the rate came from prices for motor fuels, which rose by less than they did a year ago. The main upward effect came from prices for a range of recreational and cultural goods and services, in particular, admissions to attractions such as zoos and gardens, for which prices fell by less than they did a year ago. The Consumer Prices Index (CPI) 12-month rate was 3.0% in January 2018, unchanged from December 2017.

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China CPI up by 1.5% in January

China’s consumer inflation cooled to 1.5 percent in January, in line with economists’ forecasts, official data showed on Friday. The consumer price index (CPI) had been expected to moderate from a 1.8 percent gain in December. The producer price index (PPI) rose 4.3 percent from a year earlier, also cooling from the previous month’s rise of 4.9 percent, the National Bureau of Statistics (NBS) said on its website.

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Australian PPI rose by 0.6%

Australian PPI rose 0.6% in the December quarter 2017. The increase was mainly due to rises in the prices received for Petroleum refining and petroleum fuel manufacturing (+11.9%), Heavy and civil engineering construction (+0.7%) and Building construction (+0.4%). It was partly offset by falls in the prices received for Sugar and confectionery manufacturing (-3.9%), Tobacco product manufacturing (-3.8%) and Sheep, beef cattle and grain farming; and dairy cattle farming (-3.6%). It rose 1.7% through the year to the December quarter 2017.

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UK CPI down to 3.0% in December

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in December 2017, down from 2.8% in November 2017. Following a steady increase from late 2015, since April 2017 the CPIH rate has levelled off, ranging between 2.6% and 2.8%. The downward effect came mainly from air fares, along with a fall in the prices of a range of recreational goods, particularly games and toys. The downward contributions were partially offset by an increase in tobacco prices, reflecting duty increases that came into effect following the Autumn Budget, along with an increase in petrol and diesel prices. The Consumer Prices Index (CPI) 12-month rate was 3.0% in December 2017, down from 3.1% in November 2017.

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