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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 January
In the UK, the CPI climbed 5.50% on a YoY basis in January, compared to a rise of 5.40% in the previous month. Markets were expecting the CPI to record an advance of 5.40%.
UK house price climbed in December
In the UK, the house price jumped 10.80% on a YoY basis in December, compared to a revised advance of 10.70% in the prior month.
Euro-zone industrial production rose more than anticipated in December
In Euro-zone, industrial production climbed 1.20% on a MoM basis in December, compared to a revised rise of 2.40% in the previous month. Markets were expecting industrial production to record a rise of 0.30%.
FOMC minutes: Fed ready to raise interest rates
Minutes of the US Federal Reserve’s (Fed) January monetary policy meeting indicated that the central bank would raise interest rates soon and outlined plans to end its asset purchases by early March as planned. Further, officials agreed it would be appropriate to remove policy accommodation at a faster pace than currently anticipated if inflation does not move down as expected.
US retail sales climbed more than anticipated in January
In the US, retail sales rose 3.80% on a MoM basis in January, compared to a revised drop of 2.50% in the previous month. Markets were expecting retail sales to record a rise of 2.00%.
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