UK CPI Released

London: 18 October 2023 (TraderMade): The Office of National Statistics declared the UK Consumer Price Index (CPI) for September early today.

The CPI increased by 6.7% YoY in September. The financial experts anticipated a rise of 6.5%. Yet, the index was more than expected. The CPI edged 0.5% higher MoM.

The core CPI rose by 6.1% YoY, and All Service CPI rose by 6.9% YoY. These figures are slightly higher than the data released for August. The policymakers expect a gradual decrease in inflation.

How markets may shape

UK CPI is a crucial economic data watched by analysts globally. The index indicates the inflation level considering various sectors and corresponding growth prospects. Thus, the CPI may affect the BoE's interest rate decision in the upcoming meeting.

The UK CPI release sets the sentiment about the country's economic growth and thus influences the Pound Sterling exchange rates.

So, monitoring price movements in important pairs, like GBPUSD and EURGBP, would be paramount to making informed decisions.

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