News

UK April CPI +0.8% vs +0.9% y/y expected

Latest data released by ONS – 20 May 2020

  • Prior +1.5%
  • Core CPI +1.4% vs +1.4% y/y expected
  • Prior +1.6%

Slight delay in the release by the source. The headline reading slumps to its weakest level since August 2016 as the fallout from the virus outbreak and softer energy prices last month helped to drive inflation pressures lower.

The good news is that core inflation held up somewhat but it still matches the low seen back in December last year, which was at the time the weakest level since November 2016.

Some other details on the day as producer price and retail price figures are released:

  • PPI output % vs -0.5% m/m expected
  • PPI output % vs -0.5% y/y expected
  • PPI input % vs -4.3% m/m expected
  • PPI input % vs -8.8% y/y expected
  • RPI % vs 0.0% m/m expected
  • RPI % vs +1.6% y/y expected

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