UK CPI rises 1.3% YoY in December vs. +1.5% expected.
UK CPI arrives at 0.0% MoM in December vs. +0.2% expected.
The UK Consumer Prices Index (CPI) 12-month rate came in at +1.3% in December, when compared to +1.5% booked in November while bettering expectations of a +1.5% print, the UK Office for National Statistics (ONS) reported on Wednesday.
on the other hand , the core inflation gauge arrived at +1.4% YoY last month versus +1.7% booked in Nov while the consensus forecast of +1.7%.
The Pound reacted sharply to by loosing gains and all the pound crosses enjoyed by the GBP bears.So far on minor time frames as the lower lows formation in progress .The today’s economic events was the key factor behind the pound movement and Investors are now waiting for the next Interest rates decision.
So far The European Union released the GDP numbers(Opens in a new browser tab) Since then EURGBP as welll trying to recover its losses and gained the momentum ahead.