CPI y/y (GBP) comes in at 3.5% against 3.4% consensus

The UK’s Consumer Price Index year over year (CPI y/y) for October 2026 was reported at 3.5%. This figure surpassed the market consensus of 3.4% and represented an increase from the previous reading of 3.1%. The actual print came in 2.9% above the consensus expectation.

Following the release, the British Pound showed varied reactions against major currencies. Fifteen minutes after the data, EURGBP was up 1.4 pips, while GBPAUD was down 10 pips. GBPCAD declined by 8.1 pips, GBPCHF gained 1.3 pips, and GBPJPY fell by 4.7 pips. GBPNZD was down 7.4 pips, and GBPUSD traded lower by 2.7 pips. These initial movements are relatively small compared to historical median 1-hour moves, which typically see EURGBP move 8 pips, GBPAUD 20 pips, GBPCAD 19 pips, GBPCHF 13 pips, GBPJPY 17 pips, GBPNZD 19 pips, and GBPUSD 14 pips.