UK CPI edges higher in August, but misses estimates
|The UK consumer prices showed no growth on yearly basis in August, staying unchanged at 0.6% seen a month before, although missed forecasts of a 0.7% reading, the Office for National Statistics (ONS) revealed on Tuesday.
While the core inflation gauge remained muted at 1.3% in August versus 1.3% last, also disappointing market expectations of a +1.4% rise.
On monthly basis, the UK inflation figures nearly missed estimates, rising +0.3% last month, as compared to -0.1% seen previously, and +0.4% forecast.
The ONS reports, “The rate is still relatively low in the historic context although it is above the rates experienced in 2015 and early 2016. The main upward contributors to change in the rate were rising food prices and air fares, and a smaller fall in the price of motor fuels than a year ago. These upward pressures were offset by falls in hotel accommodation prices, in addition to smaller rises in the prices of alcohol, and clothing and footwear than a year ago. “
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.