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6:03 AM ยท 22 May 2024

BREAKING: GBPUSD ticks higher after higher-than-expected UK CPI inflation ๐Ÿ“Œ

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07:00 AM BST, United Kingdom - Inflation Data for April:

  • CPI: actual 0.3% MoM; forecast 0.2% MoM; previous 0.6% MoM;
  • CPI: actual 2.3% YoY; forecast 2.1% YoY; previous 3.2% YoY;
  • Core CPI: actual 3.9% YoY; forecast 3.6% YoY; previous 4.2% YoY;
  • Core CPI: actual 0.9% MoM; forecast 0.7% MoM; previous 0.6% MoM;
  • Core RPI: actual 2.3% YoY; previous 3.3% YoY;
  • Core RPI: actual 0.5% MoM; previous 0.5% MoM;
  • Core PPI Output: actual 0.0% MoM; previous 0.3% MoM;
  • Core PPI Output: actual 0.2% YoY; previous 0.2% YoY;
  • PPI Output: actual 1.1% YoY; forecast 1.2% YoY; previous 0.7% YoY;
  • PPI Output: actual 0.2% MoM; forecast 0.4% MoM; previous 0.2% MoM;

07:00 AM BST, United Kingdom - Inflation Data for April:

  • RPI: actual 3.3% YoY; forecast 3.3% YoY; previous 4.3% YoY;
  • RPI: actual 0.5% MoM; forecast 0.5% MoM; previous 0.5% MoM;
  • PPI Input: actual -1.6% YoY; forecast -1.2% YoY; previous -2.5% YoY;
  • PPI Input: actual 0.6% MoM; forecast 0.4% MoM; previous -0.2% MoM;

In April, headline inflation rose by 0.3% (vs. 0.2% expected) and core inflation increased by 0.9% (vs. 0.7% expected), with annual inflation rates higher than anticipated but still lower than in March due to energy regulator's 12% reduction in the energy price cap starting April. Despite the uncertainty of this impact, traders may view the situation as indicating persistent inflation, especially with annual services inflation at 5.9% (vs. 5.5% expected). 

At the time of the report's release, GBPUSD surged significantly, and the gains are not being reduced shortly after the release, suggesting a strong market surprise.

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