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Monthly UK CPI arrives at 0.4% in November vs. 0.6% expected.The UK annualized Consumer Prices Index came in at 10.7% in November against the 11.1% registered in October while missing estimates of a 10.9% print, the UK Office for National Statistics reported on Wednesday. The index eased from its highest level since November 1981.
Meanwhile, the core inflation gauge rose 6.3% YoY last month versus 6.5% seen in October, missing the forecasts of 6.5%. The monthly figures showed that the UK consumer prices rose by 0.4% in November vs. 0.6% expectations and 2.0% previous. The UK Retail Price Index for November arrived at 0.6% MoM and 14.0% YoY, bettering estimates across the time horizon.“The largest upward contributions to the annual CPIH inflation rate in November 2022 came from housing and household services , and food and non-alcoholic beverages.”
“The largest downward contribution to the change in both the CPIH and CPI annual inflation rates between October and November 2022 came from transport, particularly motor fuels, with rising prices in restaurants, cafes and pubs making the largest, partially offsetting, upward contribution.”The pair was last seen trading at 1.2365, up 0.10% on the day. The US dollar holds steady heading into the US Federal Reserve policy announcements.
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