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UK CPI rose more than expected

Tuesday, Jan 17 2017
UK CPI rose more than expected

The Consumer Prices Index (CPI) rose by 1.6% in the year to December 2016, compared with a 1.2% rise in the year to November. The rate in December was the highest since July 2014, when it was also 1.6%. Price movements for the majority of the broad groups of goods and services acted to increase the rate between November 2016 and December 2016. The main contributors to the increase in the rate were rises in air fares and the price of food, along with prices for motor fuels, which fell by less than they did a year ago.

The annual rate of producer price inflation continued to grow in December 2016, although mainly as a result of falling prices a year ago, as growth was relatively flat on the month. Factory gate prices (output prices) rose 2.7% on the year to December 2016 and 0.1% on the month, which was the sixth consecutive period of annual growth and the eleventh of monthly growth. Prices for materials and fuels paid by UK manufacturers for processing (input prices) rose 15.8% on the year to December 2016 and 1.8% on the month.

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