UK CPI y/y
Track UK CPI y/y to gauge inflation trends influencing Bank of England rate decisions and currency strength.
Overview
Consumer prices are a key component of overall inflation. Inflation significantly impacts currency valuation, as increasing prices prompt the central bank to adjust interest rates to control inflation. This data is deemed the most crucial inflation indicator in the UK because it serves as the benchmark for the central bank's inflation target.
Key Information
What it Measures
The variation in the prices of goods and services bought by consumers.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it is positive for the currency.
Source & Frequency
Office for National Statistics (latest release) - https://www.gov.uk/government/statistics • This data is released monthly, approximately 16 days following the end of the month.
How Data is Derived
The average price of various goods and services are sampled and then compared to the sampling done a year earlier
Also Known As
N/A
Acronym
Consumer Price Index (CPI)