UK CPI prints negative for second consecutive month

FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) showed the annualised cost of living in October stayed negative for the second consecutive month.

The UK annualised CPI printed in lint with estimates to stay unchanged at -0.1%. The CPI m/m also matched the estimate of 0.1%. Meanwhile, the core inflation beat the estimate to tick higher to 1.1% from September’s 1.0%.

The Bank's most recent quarterly inflation report showed that interest rates could remain at historic lows throughout 2016 without any significant risk of an overshoot in inflation.