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The United Kingdom (UK) Consumer Price Index (CPI) edged higher by 2.6% on a yearly basis in November after recording a 2.3% growth in October, according to the data released by the Office for National Statistics (ONS) on Wednesday. Data aligned with the market forecast of 2.6% and stayed well above the Bank of England’s (BoE) 2.0% target.Core CPI (excluding volatile food and energy items) rose by 3.5% YoY in November, compared to a 3.3% increase in October while missing the market consensus of 3.6%. Services inflation stayed unchanged at 5.0% YoY in November.Meanwhile, the UK Consumer Price Index came in at 0.1% MoM in November, following a 0.6% acceleration in October. Markets expected a 0.1% print in the reported month.
GBP/USD reaction to the UK CPI inflation data
The UK CPI data failed to impress the Pound Sterling, keeping GBP/USD ranging at around 1.2700. The pair is trading 0.06% lower on the day, as of writing.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Euro.
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