- UK headline CPI comes in at -0.2% for October vs. +0.1% prior.
- Yearly rate eases further to 1.5%, core CPI holds steady at 1.7%.
The UK Consumer Prices Index (CPI) 12-month rate eased to 1.5% in October as compared to a reading of 1.6% expected and worse than 1.7% recorded in the previous month, the UK Office for National Statistics (ONS) reported this Wednesday.
Conversely, the core inflation gauge (excluding volatile food and energy items) held steady and arrived at 1.7% YoY rate during the reported month, matching consensus forecast.
Meanwhile, the monthly figures showed that the UK consumer prices fell 0.2% in October, worse than the previous month’s modest rise of 0.1% and also missed market expectations pointing to a reading of -0.1%.
GBP moves little
Meanwhile, the data was largely overshadowed by the UK political uncertainty and did little to provide any meaningful impetus to the British pound. The GBP/USD pair held on to its mildly weaker tone below mid-1.2800s and had a rather muted reaction to the softer figures.
Share
