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Main contributors to the CPI print

UK DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

Looking at the contributions to headline CPI:

  • Biggest downside driver is "furniture and household goods" contributing -0.13ppt.
  • Air fares contributed -0.09ppt - and that was expected to be a decent upside contributor so that accounts for a lot of the surprise today - and as noted is very volatile.
  • Recreation and culture only contributed +0.01ppt - that was one of the categories expected to see big base effects driving higher.
  • Included within that is restaurants and cafes which contributed +0.05ppt (and had been expected to be a big upside contributor on base effects) and this was largely offset by -0.06ppt in accommodation services.
  • "Food and non-alcoholic beverages" contributed -0.11ppt - that's a bit of a larger fall than expected.
  • "Clothing and footwear" also big reversal - contributed -0.06ppt - partially reversing the +0.04ppt seen last month and a volatile component with little predictive power.
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Looking at the contributions to headline CPI:

  • Biggest downside driver is "furniture and household goods" contributing -0.13ppt.
  • Air fares contributed -0.09ppt - and that was expected to be a decent upside contributor so that accounts for a lot of the surprise today - and as noted is very volatile.
  • Recreation and culture only contributed +0.01ppt - that was one of the categories expected to see big base effects driving higher.
  • Included within that is restaurants and cafes which contributed +0.05ppt (and had been expected to be a big upside contributor on base effects) and this was largely offset by -0.06ppt in accommodation services.
  • "Food and non-alcoholic beverages" contributed -0.11ppt - that's a bit of a larger fall than expected.
  • "Clothing and footwear" also big reversal - contributed -0.06ppt - partially reversing the +0.04ppt seen last month and a volatile component with little predictive power.