In April, UK headline CPI accelerated to 2.1% yoy, up fro 1.9% yoy but missed expectation of 2.2% yoy. Core CPI was unchanged at 1.8% yoy, also missed expectation of 1.9% yoy. RPI, however, jumped sharply to 3.0% yoy, up from 2.4% yoy and beat expectation of 2.8% yoy.
ONS noted that rising energy prices and air fares, which were influenced by the timing of Easter, produced the largest upward contributions to change in the rate between March and April 2019. The largest, offsetting, downward contribution came from across a range of recreational and cultural items, which included computer games and package holidays.
PPI input rose to 3.8% yoy, up from 3.7% yoy but missed expectation of 4.4% yoy. PPI output slowed to 2.1% yoy, down from 2.4% yoy and missed expectation of 2.3% yoy. PPI output core was unchanged at 2.2% yoy, matched expectations.
Also from UK, house price index rose 1.4% yoy in March, well above expectation of 1.0% yoy. Public sector net borrowing rose GBP 5.0B in April.
