British PPI rose unexpectedly

PPI Input m/m

Currency: GBP

British PPI rose to 0.6% as it was expected by analysts from 0.2% in previous month.

These figures were caused by higher prices for oil and other commodities which have drove companies’ costs up and also increase in sales tax and pound´s drop led to higher consumer price inflation.

“Manufacturers are to some extent getting squeezed and that’s not going to change any time soon,” Brian Hilliard, chief U.K. economist at Societe Generale SA in London, said before the report was published. “Input prices are still very elevated, but are weakening. The inflation rate will take a while to come down.”

GBPUSD traded at 1.6264 after this release.

Previous announcement
British National Statistics will release report about PPI which is expected to increase from 0.4% in previous month to 0.6%.

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Daily Forex Analysis November 13, 2012


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