No surprises in the headline number: inflation was flat y/y in June in the UK. In other figures, the RPI came out at 1% as expected but Core CPI missed with only 0.8% contrary to 0.9% predicted.
GBP/USD is slightly higher.
In other figures, PPI Input fell 1.3%, more than 0.7% predicted and PPI Output remained flat m/m. The House Price Index rose 5.7%, less than 5.9% predicted but above 5.5% last month.
The UK was expected to report no change in headline y/y CPI in June 2015 after +0.1% in May. Month over month, a rise of 0.1% was expected to follow the previous +0.2% gain The RPI was predicted to rise 1% as in the previous month and Core CPI to remain at +0.9%
GBP/USD traded around 1.5450 towards the publication, off the highs it reached beforehand but above the lows on Friday.
It’s a busy day for pound traders. The governor of the Bank of England, Mark Carney, will appear in parliament for the Inflation Report Hearings. Carney will be accompanied by some colleagues.
More: GBPUSD forecast.
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