UK CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Bank of England watches when setting interest rates.
Actual
8.7%
Forecast
8.5%
Previous
8.7%
UK Inflation Rate (CPI) for May came in at 8.7% versus 8.5% expected (previous 8.7%), above forecast, which was positive for the GBP.
What it meant for the GBP
The actual landed above the 8.5% forecast (0.2 above expectations). A reading above forecast is generally bullish for the GBP, and below forecast bearish. On this release the read was positive for the GBP.
New to this release? See what UK Inflation Rate (CPI) measures, the next release and its full history.