UK Jan CPI rises to the highest rate since June 2014, but misses estimates
|The UK consumer prices extend its bullish momentum in January, arriving at 1.8% versus December’s +1.6%, although came in a tad softer than estimates of a 1.9% rise, the Office for National Statistics (ONS) revealed on Tuesday.
While the core inflation gauge steadied in Jan at +1.6 y/y. Markets had predicted the core figures to show an increase of +1.7%.
On monthly basis, the UK inflation figures turned into negative territory, coming in at -0.50% last month, as compared to +0.5% previous and expectations of -0.50%.
ONS reports, “The main contributors to the increase in the rate were rising prices for motor fuels and to a lesser extent food prices, which were unchanged between December 2016 and January 2017, having fallen a year ago. These upward pressures were partially offset by prices for clothing and footwear, which fell by more than they did a year ago.”
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.