UK CPI slowed to 1.3% yoy in December, down from 1.5% yoy, below expectation of 1.5% yoy. That’s also the lowest level since December 2016. Core CPI also slowed to 1.4% yoy, down from 1.7% yoy, missed expectation of 1.7% yoy. RPI was unchanged at 2.2% yoy, below expectation of 2.3% yoy.
Also released, PPI input rose to -0.1% yoy, up from -1.9%, versus expectation of -0.7% yoy. PPI output rose to 0.9% yoy, up from 0.5% yoy , matched expectation. PPI output core dropped to 0.9% yoy, down from 1.1% yoy, missed expectation of 1.0% yoy.
