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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI rose more than expected in November
In the UK, the consumer price index (CPI) recorded a rise of 5.10% on a YoY basis in November, compared to a rise of 4.20% in the previous month. Markets were expecting the CPI to record a rise of 4.70%.
UK house price index climbed in October
In the UK, the house price index registered a rise of 10.20% on a YoY basis in October, compared to an advance of 11.80% in the prior month.
Fed doubles taper, signals three hikes in 2022
The US Fed, in its latest monetary policy decision, indicated that it would double the pace of scaling back purchases of Treasuries and mortgage-backed securities to $30 billion a month, putting it on track to conclude the program in March 2022. Further, the central bank signalled three quarter-percentage-point interest rate hikes by the end of 2022, as the economy nears full employment and the Fed copes with a surge of inflation.
US advance retail sales advanced less than anticipated in November
In the US, advance retail sales rose 0.30% on a MoM basis in November, compared to a rise of 1.70% in the prior month. Markets were expecting retail sales to record a rise of 0.80%.
US housing market index unexpectedly advanced in December
In the US, the housing market index unexpectedly rose to a level of 84.00 in December, compared to a reading of 83.00 in the previous month. Market expectations were for the index to record a flat of 83.00.
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