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UK January CPI was slightly weaker than expected - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Research Team at ANZ, notes that the UK’s January CPI was slightly weaker than expected, falling 0.8% m/m, driven by the plunge in oil prices.

    Key Quotes

    “But as the fall was less than in January 2015, the annual rate edged up to 0.3% (vs +0.2%) and it was the third consecutive month above zero. Food and non-alcoholic drinks fell 0.3% y/y, reflecting the ongoing competition between in the supermarket sector. Transport prices also fell 0.4% y/y as airline prices dropped (energy related). That helped to restrain core inflation, which rose 1.2% y/y vs 1.4% y/y in December. Essentially, low inflation and its persistent undershoot remains largely an energy price story.”
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