BREAKING: GBPUSD dips after UK CPI report 🔔

08:00 AM GMT, United Kingdom - Inflation Data for November:

• CPI: actual 2.6% YoY; forecast 2.6% YoY; previous 2.3% YoY;

• CPI: actual 0.1% MoM; previous 0.6% MoM;

• Core CPI: actual 3.5% YoY; forecast 3.6% YoY; previous 3.3% YoY;

• Core CPI: actual 0.0% MoM; previous 0.4% MoM;

• Services CPI: actual 5.0% YoY; forecast 5.1% YoY; previous 5.0% YoY;

• RPI: actual 0.1% MoM; forecast 0.2% MoM; previous 0.5% MoM;

• PPI Output Prices: actual 0.3% MoM; forecast 0.2% MoM; previous 0.0% MoM;

• PPI Output Prices: actual -0.6% YoY; forecast -0.7% YoY; previous -0.8% YoY;

• PPI Input Prices: actual 0.0% MoM; forecast 0.2% MoM; previous 0.1% MoM;

• PPI Input Prices: actual -1.9% YoY; forecast -1.6% YoY; previous -2.3% YoY;

Consumer prices rose by 0.1% on the month, while core prices remained flat at 0.0% MoM. The annual CPI inflation matched expectations at 2.6%, while core inflation came in slightly below forecast at 3.5% YoY. Services inflation edged higher to 5.0% YoY from the previous month's 5.0%, showing continued stickiness in this sector. This persistent level of services inflation may influence the Bank of England's (BOE) thinking on monetary policy, despite signs of easing in other price components. Producer prices showed mixed signals, with output prices rising 0.3% MoM but remaining in deflationary territory at -0.6% YoY, while input prices recorded 0.0% monthly change and a deeper annual decline of -1.9%.