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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced more than expected in June
In the UK, the consumer price index (CPI) advanced 2.50% on a YoY basis in June, compared to a climb of 2.10% in the previous month. Markets were expecting the CPI to record an advance of 2.20%.
UK house price index rose more than anticipated in May
In the UK, the house price index climbed 10.00% on a YoY in May, compared to a rise of 8.90% in the prior month. Markets were expecting the index to record a rise of 9.60%.
Euro-zone industrial production fell more than expected in May
In the Euro-zone, industrial production dropped 1.00% on a MoM basis in May, compared to a revised advance of 0.60% in the prior month. Markets were expecting industrial production to record a fall of 0.20%.
Fed’s Beige Book: US economy growing at a ‘moderate to robust pace’
According to the Fed’s latest Beige Book report, the US economy strengthened at a ‘moderate to robust’ pace from late May to early July. Further, the report revealed that prices increased at an above-average pace, as seven districts reported strong price growth.
US PPI rose more than market forecast in June
In the US, the PPI rose 1.00% on a MoM basis in June, more than market forecast and compared to a rise of 0.8% in May.
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