BREAKING: EURBGP dips after UK CPI report 🔔

07:00 AM GMT, United Kingdom - Inflation Data for October:

• CPI: actual 0.6% MoM; previous 0.0% MoM;
• CPI: actual 2.3% YoY; forecast 2.2% YoY; previous 1.7% YoY;
• Core CPI: actual 0.4% MoM; previous 0.1% MoM;
• Core CPI: actual 3.3% YoY; forecast 3.1% YoY; previous 3.2% YoY;
• RPI: actual 3.4% YoY; forecast 3.3% YoY; previous 2.7% YoY;
• Core RPI: actual 0.5% MoM; previous -0.4% MoM;
• Core RPI: actual 2.8% YoY; previous 2.0% YoY;
• PPI: actual 0.0% MoM; forecast -0.1% MoM; previous -0.4% MoM;
• PPI: actual -0.8% YoY; previous -0.6% YoY;

Consumer prices rose by 0.6% on the month, while core prices increased by 0.4%, both slightly exceeding estimates. Core annual inflation also came in higher than expected, reinforcing expectations that the Bank of England (BOE) will maintain its current bank rate next month. Services inflation remains a key concern, with core services inflation ticking up to 5.0% from 4.9% the previous month.