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November 14, 2017 09:30 GMT
BULLET: UK Data: CPI Steady At 3.0% in October; Joint Since..>
UK Data: CPI Steady At 3.0% in October; Joint Highest Since Mar 2012
--UK Oct CPI +0.1% m/m; +3.0% y/y; Unchanged Versus Sep
--UK Oct Producer Output Prices +0.2% m/m; +2.8% y/y
--UK Oct Producer Input Prices +1.0% m/m; +4.6% y/y
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Headline CPI inflation held steady at 3.0% in October, confounding
the expectations of most analysts and the Bank of England that it would
edge higher. The BOE Monetary Policy Committee expected CPI to peak in
October, and the path may well be downwards from here. The main upward
contribution came from food, with inflation in the food and
non-alcoholic beverages category spiking to 4.0% on the year from 3.0%
in Sep. Offsetting effects came from furniture, household goods and
miscellaneous goods and services. Pipeline inflation pressure eased
markedly, with y/y input price inflation the lowest since July 2O16 and
output price inflation the lowest since Nov 2016.
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