UK Inflation Soars in December, GBP/USD Underpinned by Strong UK Data Releases

Price pressures in the UK continue unabated adding further pressure on the Bank of England to hike rates further at the February meeting

1/19/2022 8:20:00 PM

UK price pressures continue to soar with annual inflation rising to 5.4% in Dec from 5.1% in Nov while the core inflation rate y/y rose to 4.2% from a prior reading of 4.0%. Get your market update from nickcawley1 here:

Price pressures in the UK continue unabated adding further pressure on the Bank of England to hike rates further at the February meeting

UK price pressures continue to soar with annual inflation rising to 5.4% in December from 5.1% in November while the core inflation rate y/y rose to 4.2% from a prior reading of 4.0%. Both readings beat market expectations.One of the Bank of England’s favoured inflation readings, the consumer price index including owner occupier’s housing costs (CPIH) rose by 4.8% in the 12 months to December 2021, up from 4.6% to November. According to the Office for National Statistics (ONS),

‘The 12-month inflation rate was the highest since September 2008, when it also stood at 4.8%. This is the highest recorded 12-month inflation rate in theNational Statisticsdata series, which begins in January 2006, and the highest rate since CPIH stood at 5.1% in May 1992 in the historical modelled estimates.’ Food prices grew strongly, along with increases in furniture and clothing, while petrol prices were stable this month.

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Explainer: UK inflation nears 30-year high, but how fast will it fall back?British consumer price inflation looks set to hit a 30-year high of 6% or more in April, but the big question for the Bank of England and the wider public is how quickly it will then fall back. It falls now Transitory......ask America 😂 robertojirusta

U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest RatesConsumer prices in the U.K. rose 5.4% in December compared with a year earlier, strengthening the case for further increases in the Bank of England’s key interest rate as the country’s economy emerges from the Omicron wave. SPREAD THE WORD: MAC MILLER MOLESTED CHILDREN Thats pretty good. In Turkey they have increased about 50%. I urge you to also post an article about that as well. wait how is Brandon increasing UK inflation as well

UK inflation surges to highest level in 30 yearsUK consumer price inflation has surged to the highest level in three decades, heaping pressure on households already facing a huge increase in energy costs. That damn Biden! 🤦‍♀️🤪😂 Yet the GOP would have you believe inflation is only a problem for America & Biden is to blame🤷‍♂️ World crisis has caused inflation to rise across the globe & until this pandemic is under control it will remain a problem! Passing BBB would help reduce it & the GOP know this🤷‍♂️

UK employers add record number of jobs despite OmicronBritish employers added a record 184,000 staff to their payrolls in December, showing little impact from the Omicron variant of coronavirus, while job vacancies hit a new record high, potentially fuelling the Bank of England's inflation worries.

UK PM's former adviser says Johnson knew about lockdown partyA former senior adviser to Britain's Boris Johnson said on Monday he was willing to 'swear under oath' that the prime minister knew a party was being held at his residence during a COVID-19 lockdown, accusing him of lying to parliament. British media have reported that at least 11 gatherings took place at 10 Downing Street - the prime minister's official residence and office - or in other government departments between May 2020 and April 2021, when COVID-19 rules limited how many people could meet socially. Dominic Cummings, an architect of Britain's departure from the European Union and a former senior adviser to Johnson who left government under acrimonious terms in November 2020, said on Twitter that the prime minister had agreed that the drinks party should go ahead. GIVE HIM A BREAK HE IS A NEW PARENT WITH NO SLEEP 🙋🏽‍♀️MLK

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