Home News U.K. CPI Inflation Rebounds to 2.3% YoY in October vs 2.2% Expected

U.K. CPI Inflation Rebounds to 2.3% YoY in October vs 2.2% Expected

November 20, 2024

United Kingdom’s annual CPI jumped 2.3% in October vs. 2.2% estimate.

by FXStreet Team
FX Street

The United Kingdom (UK) Consumer Price Index (CPI) rose at an annual rate of 2.3% in October after increasing by 1.7% in September, the data released by the Office for National Statistics (ONS) showed on Wednesday.

Data beat the expectations for a 2.2% acceleration, moving back above the Bank of England’s (BoE) 2.0% target.

Core CPI (excluding volatile food and energy items) edged higher by 3.3% YoY in October as against a 3.2% growth in September while outpacing the market forecast of 3.1%.

The UK October Services CPI inflation advanced to 5.0% YoY in October versus September’s 4.9%.

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