- Prior 1.9%
- CPI -0.3% vs -0.2% exp m/m. Prior +0.2%
- Core 1.8% vs 1.9% exp y/y. Prior 2.0%
- RPI -0.1% vs -0.1% exp m/m. Prior +0.2%
- 2.5% vs 2.6% exp y/y. Prior 2.6%
- RPI ex-mortgage & interest payments -0.1% vs -0.1% exp m/m. Prior +0.2%
- 2.6% vs 2.6% exp y/y. Prior 2.7%
GBP/USD smacked down to 1.6638 and through the 200 dma at 1.6666.
Clothing and footwear the biggest faller -5.7% vs +0.6% in June. Furniture and household equipment also down a chunk at -1.5% from +0.1% prior
UK CPI breakdown 19 08 2014
As I suspected the headline fell more than the core. I would think that clothing and footwear feel so much due to sales coming online and particularly when we got hoofed out of the world cup. Almost immediately after our demise anyone who was selling something with a St George cross on slashed prices.
Overall there’s nothing too negative hear. The lower inflation may keep the doves happy but the BOE won’t be too bothered if we hold around or below, rather than above, the 2.0% BOE target
UK Core CPI 19 08 2014
