- Prior +3.6%
- Core CPI +3.2% vs +3.4% y/y expected
- Prior +3.4%
That is an unexpected miss, especially on the core estimate which is the lowest since January. This will just solidify a rate cut by the BOE for this week but also put pressure on perhaps more rate cuts to come if the central bank can start to sell the narrative of a disinflation path going into next year. The pound has stumbled with GBP/USD falling by 0.6% to 1.3345 on the day from 1.3377 just before. More to come..
This article was written by Justin Low at investinglive.com.