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Contributions to the Y/Y change in CPI

UK DATA

Looking at Y/Y changes to contributions:

  • Accommodation services contributed +0.03ppt to headline CPI with restaurants actually -0.05ppt in the annual contribution (but +0.08ppt to the M/M).There was a downside contribution from clothing (-0.05ppt contribution to headline CPI) and furniture (-0.07ppt contribution to headline CPI).
  • Food prices fell while energy prices were higher due to petrol prices rising (both of those expected).
  • Air fares contributed -0.03ppt to headline CPI (smaller than exp).

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