UK CPI climbs to 10.1% YoY in September vs. 10.0% expected.
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- UK CPI climbs to 10.1% YoY in September vs. 10.0% expected.
The UK Consumer Prices Index (CPI) 12-month rate came in at 10.1% in September when compared to 9.9% booked in August while missing estimates of a 10.0% print, the UK Office for National Statistics (ONS) reported on Wednesday. The index surged to its highest level since 1982.
more to come ….
The Bank of England (BOE) is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase of interest rates or the reduction of bond-buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish.
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