UK CPI steadies at 1.9% y/y in March, misses estimates (GBP slips)

Dhwani Mehta FXStreet

The UK Consumer Prices Index (CPI) 12-month rate came in at 1.9% in March, same as that seen in February while missing the 2.0% 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 1.8% y/y versus 1.8% booked in February while missing the consensus forecast of 1.9%.

The monthly figures showed that the UK consumer prices eased 0.2% in February, missing 0.3% expectations and 0.5% last.

Main Points (via ONS):

“Rising prices for motor fuels and clothing produced the largest upward contributions to change in the rate between February and March 2019.

The largest, offsetting, downward contributions came from across a range of recreational and cultural goods, food and motor vehicles.”

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.

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