The post UK CPI data set to show inflation fell further in September appeared on BitcoinEthereumNews.com.

United Kingdom’s Office for National Statistics will release the CPI report on Wednesday. The annual UK headline and core inflation are expected to ease in September. The UK CPI data could seal in a BoE November interest-rate cut, a scenario that would weigh on Pound Sterling. The United Kingdom’s (UK) Office for National Statistics (ONS) will release the highly anticipated Consumer Price Index (CPI) data for September on Wednesday at 06:00 GMT. The UK CPI inflation report could affirm expectations of 25 basis points (bps) interest-rate cut by the Bank of England (BoE) in November, injecting a fresh bout of volatility into the Pound Sterling. What to expect from the next UK inflation report? The UK annual Consumer Price Index is likely to increase by 1.9% in September, sharply slowing down from August’s 2.2% growth while moving back below the BoE’s 2.0% target. The core CPI inflation is set to ease to 3.4% YoY in September from 3.6% in August. Official data is expected to show that services inflation fell to 5.2% in September from 5.6% the prior month, according to a Bloomberg survey of economists. The BoE projected the annual headline CPI at 2.1% and services CPI at 5.5% for September. Meanwhile, the British monthly CPI is seen rising 0.2% in the same period, as against the previous increase of 0.3%. Previewing the UK inflation data, TD Securities (TDS) analysts noted: “We look for UK inflation to continue its steady march downward. But rapidly falling energy prices still heavily distort the headline number, and services inflation is likely to remain above 5.0% YoY (TDS: 5.2%, mkt: 5.3%), leaving core well above a range the MPC is comfortable with.” “Hotel and airfare prices remain key sources of volatility in the month,” the TDS analysts said. How will the UK Consumer…

---

Filed under: News - @ October 16, 2024 2:22 am