UK CPI eases to 2.1% y/y in December, meets estimates
The UK Consumer Prices Index (CPI) 12-month rate came in at 2.1% in December, down from November’s 2.3% and meeting the 2.1% print expected, 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 versus 1.8% booked in November while bettering the consensus forecast of 1.8%.
The monthly figures showed that the UK consumer prices steadied at 0.2% in December, matching 0.2% expectations.
Main Points (via ONS):
“The largest downward contributions to change in the 12-month rate came from falls in petrol prices and from air fares, where ticket prices rose between November and December 2018, but by less than a year ago.
These downward effects were offset by upward contributions from a variety of categories including accommodation services and, to a lesser extent, mobile phone charges, games, toys and hobbies, and food.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
