- The UK CPI rose 0.7% annually in October compared to the + 0.6% expected.
- The UK monthly CPI reaches 0% in October vs. -0.1% expected.
- GBP / USD maintains gains around 1.3265 on the release of the data.
He íConsumer Price Index (CPI) 12-month-old Briton reached +0.7% in October, compared to +0.5% recorded in September, while exceeding the expectations of the +0.6%, reported Wednesday UK Office for National Statistics (ONS).
Meanwhile, the iCore inflation indicator (excluding food and volatile energy) reached +1.5% annual last month compared to +1.3% registered in September, meeting the consensus forecast of + 1.3%.
Monthly figures showed that UK consumer prices reached 0% in September against expectations of -0.1% and + 0.4% previously.
Main Points (via ONS)
“The largest contribution to the 12-month inflation rate of the CPIH in October 2020 it came from recreation and culture (0.26 percentage points)”.
“Clothing, food, furniture, ornaments, and carpets made the largest upward contributions (the contribution from these three groups totaled 0.16 percentage points) to the variation of the CPIH 12-month inflation rate between September and October 2020 “.
“These were partially offset by contributions to the decline of 0.06 Y 0.04 percentage points, especially by the recreation and culture, and transportation groups. “
FX implications
Following the favorable figures of the UK CPI, the pair GBP/USD kept his offering tone intact, above 1.3250.
The through last operated on 1.3264, with a rise of 0.18% on day.
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