UK annualized CPI beats estimates with 0.6% in Dec, GBP/USD revisits highs

• UK CPI rises 0.6% YoY in Dec vs. +0.5% expected.
• Monthly UK CPI arrives at +0.3% in Dec vs. +0.2% expected.
• GBP/USD heads back towards daily highs of 1.3669 on the data release.

The UK Consumer Prices Index (CPI) 12-month rate came in at +0.6% in December when compared to +0.3% booked in November while beating expectations of a +0.5% print, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at +1.4% YoY last month versus +1.1% booked in November, outpacing the consensus forecast of +1.3%.

The monthly figures showed that the UK consumer prices arrived at +0.3% in December vs. +0.2% expectations and -0.1% prior.

more to come ...