- Prior +6.7%
- CPI 0.0% vs +0.1% m/m expected
- Prior +0.5%
- Core CPI +5.7% vs +5.8% y/y expected
- Prior +6.1%
- Core CPI +0.3% vs +0.4% m/m expected
- Prior +0.5%
The pound is lightly lower on the data here as UK inflation falls more than expected in October. That being said, a lot of this has to do with base effects amid the high energy prices from last year. For some context, Ofgem's price cap at the time was £2,500 but is now at £1,834 for a typical household.
Core prices also did show some signs of easing, with the annual reading falling to 5.7% but it still remains high. The monthly reading also shows an increase of 0.3% so that is something to be wary about. But at least services inflation did ease slightly to 6.6% (previously 6.9%) and that should at least see the BOE breathe a little easier.
