UK October CPI +11.1% vs +10.7% y/y expected

• Prior +10.1%
• CPI +2.0% vs +1.7% m/m expected
• Prior +0.5%
• Core CPI +6.5% vs +6.4% y/y expected
• Prior +6.5%
• Core CPI +0.7% vs +0.6% m/m expected
• Prior +0.6%

Despite the government introducing the Energy Price Guarantee, gas and electricity prices still made the largest upward contribution to inflation rates on the month. Additionally, rising food prices also made a large upward contribution to the jump in inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term.

This will keep the pressure on the BOE to tighten further, even if the central bank wants to angle towards a less aggressive stance as the UK economy is set to enter into a prolonged recession period going into next year.