UK CPI eases to 2.0% y/y in May, meets estimates (GBP rises further)
|The UK Consumer Prices Index (CPI) 12-month rate came in at 2.0% in May, when compared to 2.1% booked in April while coming in line with expectations of a 2.0% print, the UK Office for National Statistics (ONS) reported on Wednesday.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.7% y/y versus 1.8% booked in April while matching the consensus forecast of 1.7%.
The monthly figures showed that the UK consumer prices eased to 0.3% in May, meeting 0.3% expectations and 0.6% last.
Main Points (via ONS):
“Falling fares for transport services, particularly air fares influenced by the timing of Easter in April, and falling car prices produced the largest downward contributions to the change in the rate between April and May 2019.
Partially offsetting upward contributions came from rising prices for a range of games, toys and hobbies, furniture and furnishings, and accommodation services.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.