2/17/2021 7:01:54 AM GMT | By Dhwani Mehta
UK CPI rises 0.7% YoY in Jan vs. +0.5% expected.
Monthly UK CPI arrives at -0.2% in Jan vs. -0.4% expected.
GBP/USD remains depressed below 1.3900 on the UK CPI release.
The UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in January when compared to +0.6% booked in December while beating expectations of a +0.5% print, the UK Office for National Statistics (ONS) reported on Wednesday.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at +1.4% YoY last month versus +1.4% booked in November, surpassing the consensus forecast of +1.3%.
The monthly figures showed that the UK consumer prices arrived at -0.2% in January vs. -0.4% expectations and +0.3% prior.