UK November CPI +10.7% vs +10.9% y/y expected

• Prior +11.1%
• CPI +0.4% vs +0.6% m/m expected
• Prior +2.0%
• Core CPI +6.3% vs +6.5% y/y expected
• Prior +6.5%
• Core CPI +0.3% vs +0.5% m/m expected
• Prior +0.7%

The more-than-expected drop in UK inflation is a welcome development but relative to historical prices, this is still a very high reading as it comes off the over 11% reading in the October report. Here is a breakdown of the details:

Of note, transport provided the largest downward contribution to the change in the annual inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rate, mainly due to motor fuels as energy prices fall off.

In terms of BOE pricing for tomorrow, I don't see the report today as being material enough to alter expectations of a 50 bps move.