FOREX TradingCharts.com

Financial News: UK Inflation Remains Steady At 3%

UK Inflation Remains Steady At 3%

11/14/2017 - 07:33:00 (RTTNews)

(RTTNews) - UK inflation held steady at the strongest level in more than five years in October as higher cost of food was offset by cheaper motor fuel prices.

Consumer prices climbed 3 percent year-on-year in October, the same pace as seen in September, the Office for National Statistics reported Tuesday. Inflation was expected to accelerate to 3.2 percent.

The 3 percent inflation was the highest figure since March 2012.

In its latest Inflation Report, the Bank of England had projected inflation to peak at 3.2 percent in October, before starting to fall back.

As the inflation remained at 3 percent, Bank of England Governor Mark Carney was spared from writing a letter to the Chancellor explaining the reasons why inflation exceeded the 2 percent target by one percentage point.

Inflation figures does not alter the assessment that policymakers will pause for the time being before raising interest rates again in the second quarter of 2018, Ruth Gregory, an economist at Capital Economics, said.

Month-on-month, consumer prices edged up 0.1 percent versus the expected growth of 0.2 percent.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, also held steady at 2.7 percent in October.

Likewise, the consumer price index including owner occupiers' housing costs, CPIH advanced 2.8 percent annually in October, unchanged from the September rate.

Food and non-alcoholic beverages prices advanced 4.1 percent in October, the highest level since September 2013. The upward contributions were offset by falling motor fuel and furniture prices.

Another report from the ONS showed that output price inflation slowed to the lowest in almost a year in November.

Output prices grew 2.8 percent year-on-year in October, the weakest since last November, versus 3.3 percent in September. The expected rate was 2.9 percent.

On a monthly basis, output prices gained 0.2 percent, the same rate as posted a month ago.

At the same time, input price inflation eased notably to 4.6 percent in October from 8.1 percent in September. Inflation was forecast to slow to 4.8 percent.

Driven by crude oil, input prices climbed 1 percent in October from September, when they rose 0.2 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Index Upwardly Revised More Than Expected (03 hr(s), 07 min(s), 31 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. pulled back by less than initially estimated in the mon ...Full Story»

UK Sets Aside Extra GBP 3 Bln For Brexit Preparation, Trims Growth Forecasts (03 hr(s), 31 min(s), 31 sec(s) ago)
(RTTNews) - The UK government set aside an additional GBP 3 billion over the next two years to aid ...Full Story»

U.S. Durable Goods Orders Unexpectedly Pull Back 1.2% In October (04 hr(s), 04 min(s), 31 sec(s) ago)
(RTTNews) - Reflecting a sharp pullback in orders for transportation equipment, the Commerce Depar ...Full Story»

U.S. Weekly Jobless Claims Pull Back To 239,000 (04 hr(s), 17 min(s), 31 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in first-time claims for U.S. unemployment bene ...Full Story»

U.S. Durable Goods Orders Unexpectedly Slump 1.2% In October (04 hr(s), 41 min(s), 31 sec(s) ago)
(RTTNews) - Reflecting a sharp pullback in orders for transportation equipment, the Commerce Depar ...Full Story»

U.S. Weekly Jobless Claims Pull Back Roughly In Line With Estimates (04 hr(s), 47 min(s), 31 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in first-time claims for U.S. unemployment bene ...Full Story»

U.S. Weekly Jobless Claims Pull Back Roughly In Line With Estimates (04 hr(s), 49 min(s), 31 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in first-time claims for U.S. unemployment bene ...Full Story»

Turkey CB Likely To Follow More Aggressive Tightening Policy Amid Weak Lira (06 hr(s), 02 min(s), 31 sec(s) ago)
(RTTNews) - The recent slide in the Turkish Lira may prompt the central bank to consider a more ag ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Upwardly Revised More Than Expected

11/22/2017 - 10:20 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. pulled back by less than initially estimated in the mon ...Full Story>>

UK Sets Aside Extra GBP 3 Bln For Brexit Preparation, Trims Growth Forecasts

11/22/2017 - 09:56 AM (RTTNews)
(RTTNews) - The UK government set aside an additional GBP 3 billion over the next two years to aid ...Full Story>>

U.S. Durable Goods Orders Unexpectedly Pull Back 1.2% In October

11/22/2017 - 09:23 AM (RTTNews)
(RTTNews) - Reflecting a sharp pullback in orders for transportation equipment, the Commerce Depar ...Full Story>>

U.S. Weekly Jobless Claims Pull Back To 239,000

11/22/2017 - 09:10 AM (RTTNews)
(RTTNews) - After reporting an unexpected increase in first-time claims for U.S. unemployment bene ...Full Story>>

U.S. Durable Goods Orders Unexpectedly Slump 1.2% In October

11/22/2017 - 08:46 AM (RTTNews)
(RTTNews) - Reflecting a sharp pullback in orders for transportation equipment, the Commerce Depar ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.