December 2018 UK CPI, PPI and RPI inflation data 16 January 2019

  • CPI December 2018 2.1% vs 2.1% exp y/y. Prior 2.3%
  • 0.2% vs 0.2% exp/prior m/m
  • Core 1.9% vs 1.8% exp/prior y/y
  • 0.3% vs 0.3% exp/prior m/m
  • RPI 0.4% vs 0.5% exp m/m. Prior 0.0%
  • 2.7% vs 2.95%exp y/y. Prior 3.2%
  • RPI-x financials 0.4% vs 0.0% prior m/m
  • 2.7% vs 3.1% prior y/y

PPI

  • Input m/m -1.0% vs -1.6% exp, prior -2.3%, revised to -2.6%
  • y/y 3.7% vs 3.5% exp, prior 5.6%, revised to 5.3%
  • Output m/m -0.3% vs 0.0% exp, prior 0.2%, revised to 0.1%
  • y/y 2.5% vs 2.9% exp, prior 3.1%, revised to 3.0%
  • Core PPI output 0.2% vs 0.1% exp, prior 0.1%
  • Core PPI output 2.5% vs 2.4% exp, prior 2.4%

Overall, nothing much to trade on. Energy prices will be driving a lot of this. We’ll have to monitor the core number further so see if there’s anymore behind it rising. That could push the BOE to a more hawkish stance if it keeps rising even if headline inflation softens.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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