UK inflation data now out 16 May

  • 0.4% prev
  • yy 2.7% vs 2.6% exp vs 2.3% prev
  • Core CPI 2.4 yy vs 2.3% exp vs 1.8% prev
  • CPIH yy 2.6 % vs 2.6% exp vs 2.3% prev
  • RPI mm 0.5 % vs 0.4% exp vs 0.3% prev
  • yy 3.5% vs 3.4% exp vs 3.1% prev
  • retail price index 270.6 vs 270.5 exp vs 269.3 prev
  • March HPI yy 4.1 % vs 5.3% exp vs 5.8% prev
  • RPI ex-mortgage yy % vs 3.7% exp vs 3.4% prev
  • PPI output mm NSA 0.4% vs 0.2% exp vs 0.4% prev
  • yy NSA 3.6% vs 3.4% exp vs 3.6% prev
  • PPI input mm NSA 0.1% vs 0.0% exp vs 0.4% prev
  • yy NSA 16.6% vs 17.0% exp vs 17.4% prev down from 17.9%

Stronger than expected/previous data in the key areas sees the algos take GBPUSD through 1.2950 to post 1.2958 but sellers prevailing atm as per my preview and now 1.2937

EURGBP 0.8534 after 0.8520 lows

ONS says:

  • Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year.
  • Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase in the rate.
  • These upward contributions were partially offset by a fall in motor fuel prices between March 2017 and April 2017, compared with a rise between the same 2 months a year ago.

Full reports here on all releases