- UK CPI rises 2.1% y/y in July vs. 1.9% expected.
- UK CPI arrives at 0.0% m/m in July vs. -0.1% expected.
The UK Consumer Prices Index (CPI) 12-month rate came in at 2.1% in July, when compared to 2.0% booked in June while bettering expectations of a 1.9% print, the UK Office for National Statistics (ONS) reported on Wednesday.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.9% y/y last month versus 1.8% booked in June while matching the consensus forecast of 1.8%.
The monthly figures showed that the UK consumer prices arrived at 0.0% in July, beating -0.1% expectations and 0.0% last.
Main Points (via ONS):
“Between June and July 2019, there were large upward contributions to the change in the CPIH 12-month rate from games, toys and hobbies, and accommodation services, where prices for both rose by more than a year ago, and from clothing and footwear, and other financial services.
There were offsetting downward contributions to change coming from transport services and, to a lesser extent, from domestic fuels principally electricity and gas.”
On an upside surprise in the UK CPI numbers, the GBP/USD pair jumped to daily highs of 1.2073 in a knee-jerk reaction before reversing quickly to near 1.2065 region.
GBP/USD Technical levels to watch
|Today last price||1.2065|
|Today Daily Change||-0.0001|
|Today Daily Change %||-0.01|
|Today daily open||1.2061|
|Previous Daily High||1.2098|
|Previous Daily Low||1.2042|
|Previous Weekly High||1.221|
|Previous Weekly Low||1.2023|
|Previous Monthly High||1.2706|
|Previous Monthly Low||1.2119|
|Daily Fibonacci 38.2%||1.2063|
|Daily Fibonacci 61.8%||1.2076|
|Daily Pivot Point S1||1.2036|
|Daily Pivot Point S2||1.201|
|Daily Pivot Point S3||1.1979|
|Daily Pivot Point R1||1.2092|
|Daily Pivot Point R2||1.2123|
|Daily Pivot Point R3||1.2149|
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.