UK CPI surged to 4.2% yoy in October, up from 3.1% yoy, above expectation of 3.8% yoy. That’s the highest level in nearly 10 years since November 2011. Core CPI also jumped to 3.4% yoy, up from 2.9% yoy, above expectation of 3.0% yoy. RPI also accelerated to 6.0% yoy, up from 4.9% yoy, above expectation of 5.6% yoy.
PPI input came in at 1.4% mom, 13.0% yoy, versus expectation of 1.1% mom, 11.6% yoy. PPI output was at 1.1% mom, 8.0% yoy, versus expectation of of 0.7% mom, 6.8% yoy. PPI core output was at 0.8% mom, 6.5% yoy, matched expectations.
