Details of the September 2015 UK CPI inflation data report 13 October 2015

  • Prior 0.0%
  • -0.1% vs 0.0% exp m/m. Prior +0.2%
  • Core 1.0% vs 1.1% exp y/y. Prior 1.0%
  • RPI -0.1% vs +0.1% exp m/m. Prior +0.5%
  • 0.8% vs 1.0% exp y/y. Prior 1.1%
  • RPI ex-financials 0.9% vs 1.1% exp y/y. Prior 1.2%
  • August HPI 5.2% vs 5.0% exp. Prior 5.2%

We can't say it hasn't been touted by the BOE but the market doesn't like the reality of it. GBP USD drops further to 1.5252

The core holding up is the small saving grace from the report

Among the big fallers was transport prices which fell 2.5% vs +0.1% in Aug. There's probably some pass through on fuels on that one. The fuels component was -2.9% vs -14.9% prior.

In the RPI all goods hit a record low -2.4% y/y but was countered by a 2.5% gain in services, the highest since Oct 2014

UK CPI & core y/y