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UK inflation a tenth higher than expected

UK DATA
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  • First glance headline, core and services all one tenth above consensus.
  • GBPUSD moved around 15 pips higher on the release - but at the time of writing has retraced around half of the move.
  • ONS website still loading for full details but the ONS notes that "came from restaurants and hotels, where prices of hotels rose more than a year ago; the largest downward contribution came from clothing and footwear, with prices of garments falling this year having risen a year ago."
  • So at first glance it does look as though this might be Taylor Swift related.
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  • First glance headline, core and services all one tenth above consensus.
  • GBPUSD moved around 15 pips higher on the release - but at the time of writing has retraced around half of the move.
  • ONS website still loading for full details but the ONS notes that "came from restaurants and hotels, where prices of hotels rose more than a year ago; the largest downward contribution came from clothing and footwear, with prices of garments falling this year having risen a year ago."
  • So at first glance it does look as though this might be Taylor Swift related.