UK: inflation has rebounded after end of support to restaurants
UK: CPI (Sept.): 0.4% m/m vs 0.5% expected (prior: -0.4%)
- Inflation has rebounded after lower tax and specific help to restaurants have ended.
- Over the month, prices of food, health and transport have declined, while prices rebounded for clothes and hotels and restaurants after measures expired.
- Yearly trend has accelerated further from 0.2% y/y the prior month to 0.5% y/y.
low inflation environment could add pressure on the BoE to ease further.
UK: PPI Input prices (Sept.): 1.1% m/m vs -0.3% expected (prior: -0.2% revised from -0.4%)
- A broad-based rise in prices over the month, except for oil prices; largest rises were seen in food and metal prices over the month.
- Yearly trend has turned less negative, from -5.6% y/y the prior month to -3.7% y/y.
UK: PPI Output prices (Sept.): -0.1% m/m vs 0% expected (prior: 0.1% revised from 0%)
- Prices have contracted further due to sharp decline in oil prices (-2.5%m/m); core PPI were up by 0.2% m/m.
- Yearly trend remained stable at -0.9% y/y.
Switzerland: M3 (Sept.): 4.1% y/y (prior: 4%)
- Other monetary aggregates have also shown parallel rising trend (M1: 5.6% y/y; M2 up by 3.2% y/y)
Poland: Retail sales (Sept.): -1.8% m/m vs -2.4% expected (prior: -2.6%)
- Contraction in sales was less negative than expected thanks to still dynamic purchases of autos, pharma and textile products.
- Trend in real yearly trend has improved from 0.5 % y/y the prior month to 2.5 %y/y.