UK CPI inflation remained stable at 6.7%, compared to the 6.5% forecast.
UK CPI climbed 6.7% year on year in September, compared to the 6.5% predicted.
Monthly inflation in the United Kingdom jumped to 0.5% in September, up from 0.4% expected.
On the back of UK inflation statistics, the GBPUSD is closing in on 1.2220.
According to official statistics released on Wednesday by the Office for National Statistics (ONS). The United Kingdom’s (UK) Consumer Price Index (CPI) grew at the same annual rate of 6.7%. In September as it did in August. The report exceeded market forecasts of a 6.5% increase.
The Core CPI index (excluding volatile food and energy categories) increased by 6.1% year on year in September. Comparable to a 6.2% increase in August. The general consensus in the market The figure was 6.0%.
Meanwhile, the Consumer Price Index increased 0.5% month on month in September, compared to the predicted 0.4% increase and the 0.3% increase in August.
The UK Retail Price Index (RPI) climbed 0.5% month on month and 8.9% year on year in September, both of which were expected.
GBPUSD response to inflation data
GBPUSD exhibited minimal response to UK CPI data, maintaining its recovery phase near 1.2200. As of this writing, the spot is up 0.12% on the day, trading at 1.2192.
https://voiceoftraders.com/analysis/us-dollar-moved-in-a-narrow-band-on-tuesday-prior-us-data
