The headline rate of inflation for goods leaving the factory gate (output prices) was 2.6% on the year to February 2018, down from 2.8% in January 2018. Prices for materials and fuels (input prices) rose 3.4% on the year to February 2018, down from 4.5% in January 2018. All industries provided upward contributions to output annual inflation; the largest contribution was made by food products. Crude oil continued to provide the largest upward contribution to the input annual inflation, despite providing the largest downward contribution on the month.
Focus of the tomorrow's session will be on UK job figures. No change is expected in Unemployment Rate. In the US session focus will be on FOMC interest rate decision as well as following press conference with analysts expecting interest rate hike to 1.75%.
Figures to watch:
Federal Funds Rate/FOMC Press Conference (Wednesday 19:30)