UK October CPI slightly stronger than expected

UK October CPI has come in at +0.2% m/m, +1.5% y/y, slightly firmer than median forecasts of +0.1%, +1.4% respectively.

The ONS says biggest upward effect on CPI from transport, particularly fuels, used cars and airfares.

Cable is being buoyed by data, presently up at 1.6855 from around 1.6830 just prior to release.