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- UK CPI and Core CPI inflation below expectations. GBP/USD down 50 pips so far
UK CPI and Core CPI inflation below expectations. GBP/USD down 50 pips so far
The Consumer Prices Index (CPI) rose by 1.8% in the year to January 2017, compared with a 1.6% rise in the year to December 2016.
The rate in January 2017 was the highest since June 2014.
The main contributors to the increase in the rate were rising prices for motor fuels and to a lesser extent food prices, which were unchanged between December 2016 and January 2017, having fallen a year ago.
These upward pressures were partially offset by prices for clothing and footwear, which fell by more than they did a year ago.
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