- UK CPI rose 6.7% year-on-year in September, versus 6.5% expected.
- British monthly inflation rose to 0.5% in September versus 0.4% expected.
- GBP/USD rises above 1.2220 following UK CPI inflation data.
According to official data published by the Office for National Statistics (ONS) on Wednesday, the UK Consumer Price Index (CPI) rose at an annual rate of 6.7% in September, the same as in August. The data exceeded market expectations, which expected an increase of 6.5%.
On a monthly basis, the UK CPI rose 0.5% month-on-month in September, up from 0.4% expected and 0.3% in August.
The core CPI (which excludes food and energy volatility) accelerated 6.1% year-on-year in the ninth month of the year, compared to the 6.2% increase recorded in August. The market consensus stood at 6.0%.
The September retail price index rose 0.5% month-on-month and 8.9% year-on-year, both figures in line with expectations.
GBP/USD Reaction to UK CPI Inflation Data
GBP/USD reacted slightly to the UK CPI data, keeping its recovery mode towards 1.2200 intact.
GBP/USD 15 minute chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
