GBP CPI m/m comes in at 0.5% against 0.5% consensus

The latest UK Consumer Price Index month over month, or CPI m/m, for Great British Pound was released at 0.5%. This figure matched the market consensus of 0.5%. The previous month’s reading stood at 0.1%, indicating an acceleration from the prior period. The actual print showed no surprise against consensus, registering a 0.0% difference.

Following the release, initial market reaction for GBP pairs has been relatively subdued compared to typical historical movements. Fifteen minutes after the data, GBPUSD moved -7.0 pips, which is small compared to its median 1-hour move of 15 pips after similar past releases. GBPCAD saw a -6.4 pip move, against a median 1-hour move of 20 pips. GBPJPY registered a -25 pip move, while its median 1-hour move is 17 pips. GBPNZD moved -24 pips, compared to its median 1-hour move of 20 pips. EURGBP moved +5.0 pips, against a median 1-hour move of 10 pips. GBPAUD moved +0.2 pips, compared to its median 1-hour move of 18 pips. GBPCHF moved -11 pips, against a median 1-hour move of 14 pips. The measured moves so far are generally smaller than or comparable to the median 1-hour moves observed after past releases.