Latest data released by ONS – 14 November 2018
- Prior +0.1%
- CPI +2.4% vs +2.5% y/y expected
- Prior +2.4%
- Core CPI +1.9% vs +1.9% y/y expected
- Prior +1.9%
The headline misses a little but the core reading holds steady. Either way, it’s not going to change market expectations of a BOE rate hike following the wages data yesterday. Right now, markets are solely focused on Brexit and the headline reading here will not be of much value to pound traders in the near-term.
Cable slips to a low of 1.2950 on the report but has now recovered to unchanged levels at 1.2965.
- PPI output +0.3% vs +0.2% m/m expected
- PPI output +3.3% vs +3.1% y/y expected
- PPI input +0.8% vs +0.6% m/m expected
- PPI input +10.0% vs +9.6% y/y expected
- RPI +0.1% vs +0.2% m/m expected
- RPI +3.3% vs +3.4% y/y expected
- September HPI +3.5% vs +3.2% y/y prior; revised to +3.1%