The Office for National Statistics released UK CPI data that came in line with expectations of 2.1%.
The head of inflation at the ONS, Mike Hardie, said: "Inflation eased mainly due to a big fall in petrol, with oil prices tumbling in recent months."
"Air fares also helped push down the rate, with seasonal prices rising less than they did last year. These were partially offset by small rises in hotel prices and mobile phone charges."
"House price growth was little changed in the year to November, with buoyant growth across much of the UK held back by London and the South East."
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| Historical Data Table: CPI y/y | Economic Calendar for 18.01.2019 | ||||||||
| Date | 15.08.2018 | 19.09.2018 | 17.10.2018 | 14.11.2018 | 16.01.2019 | All day | G20 Meetings | ||
| Actual | 2.50% | 2.70% | 2.40% | 2.40% | 2.10% | 9:30 AM | UK Retail Sales m/m | ||
| Forecast | 2.50% | 2.40% | 2.60% | 2.50% | 2.10% | 13:30 PM | CAD CPI m/m | ||
| Initial Reaction on Main Pairs | Open Position Proportions on 16.01.2019 | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.28861 | 1.28874 | 0.01% | GBP/USD | 50.57% | 49.43% | |||
| EUR/GBP | 0.88585 | 0.88613 | 0.03% | EUR/GBP | 26.89% | 73.11% | |||
| GBP/CAD | 1.70835 | 1.70878 | 0.03% | GBP/CAD | 52.10% | 47.90% | |||
| GBP/JPY | 139.91 | 139.933 | 0.02% | GBP/JPY | 68.95% | 31.05% | |||