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
4%
Forecast
4.1%
Previous
4%
Source: Office for National Statistics. Figures as released; revisions appear in the next print.
UK Inflation Rate (CPI) for January 2024 came in at 4% versus 4.1% expected (previous 4%), below forecast, which was negative for the GBP.
What it meant for the British Pound
The actual landed below the 4.1% forecast (0.1 below expectations). A reading above forecast is generally bullish for the GBP, and below forecast bearish. On this release the read was negative for the GBP.
New to this release? See what UK Inflation Rate (CPI) measures, the next release and its full history.