2018 Economic Calendar
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United Kingdom : CPI  
Released On 11/14/2018 4:30:00 AM For Oct, 2018
Month over Month0.1 %0.1 %0.1 %
Year over Year2.4 %2.5 %2.4 %

Consumer prices were just 0.1 percent firmer on the month in October, in line with market expectations. This left the annual inflation rate at 2.4 percent, matching its September outturn and so still within the 2.4 percent – 2.7 percent range seen since February.

The stability of the 12-month rate masked downward contributions from food and non-alcoholic drinks, where prices fell 0.2 percent on the month after a 0.4 percent increase a year ago, and clothing and footwear (minus 0.5 percent after 0.2 percent). Transport (minus 0.4 percent after minus 0.2 percent) also subtracted. However, downward pressure here was offset by the positive effects of housing and utilities (0.3 percent after 0.1 percent), miscellaneous goods and services (minus 0.1 percent after minus 0.5 percent) and communication (0.7 percent after minus 0.2 percent). As a result, the core CPI was only unchanged at September's level, in turn yielding a steady annual underlying rate of 1.9 percent.

The October results mean that headline inflation was just short of the 2.5 percent forecast contained in the BoE's November Quarterly Inflation Report. The rate is still above its 2 percent target - and has been for twelve consecutive months now – but another sub-2 percent core reading should help to ease any immediate worries about where prices might be headed. Interest rates are probably still headed up, but likely not until after March's Brexit.

The consumer price index (CPI) is an average measure of the level of the prices of goods and services bought for the purpose of consumption by the vast majority of households in the UK. It is calculated using the same methodology developed by Eurostat, the European Union's statistical agency, for its harmonised index of consumer prices (HICP). The CPI is the Bank of England's target inflation measure.  Why Investors Care

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