UK Consumer Price Index (CPI)
United Kingdom · GBP · next release, past figures and how GBP/USD moved after each one. Times in UTC.
What Is UK CPI?
UK CPI is the annual rate of consumer price inflation, published monthly by the Office for National Statistics at 7:00 a.m. UK time, usually in the middle of the month.
The Bank of England targets 2% CPI inflation. Because it comes out before the London open, the pound often makes its first move in thin early trading.
Read more: CPI and Forex.
How the Market Moved After the Last Releases
| Instrument | Typical 1h move | Typical 4h move | Largest 1h move | After a figure above estimate | After a figure below estimate |
|---|---|---|---|---|---|
| GBP/USD | 6.9 pips | 21.4 pips | 51.3 pips 17 Dec 2025 | Higher 2, lower 0 of 2 | Higher 0, lower 3 of 3 |
| Last 11 measurable releases. "Higher" and "lower" count how the price stood one hour after the release. Rate decisions are usually in line with the estimate, so the statement and press conference drive the move. | |||||
Release History
| Date (UTC) | Actual | Estimate | Surprise | GBP/USD 1h |
|---|---|---|---|---|
| Wed 21 Oct 2026, 06:00 UTC | 3.5% | 3.4% | +0.1% | +3.1 pips |
| Wed 16 Sep 2026, 06:00 UTC | 3.1% | 3.1% | 0% | −11 pips |
| Wed 19 Aug 2026, 06:00 UTC | 2.9% | 2.9% | 0% | +7.3 pips |
| Wed 22 Jul 2026, 06:00 UTC | 2.6% | 2.7% | −0.1% | −0.8 pips |
| Wed 20 May 2026, 06:00 UTC | 2.8% | 3% | −0.2% | −4 pips |
| Wed 22 Apr 2026, 06:00 UTC | 3.3% | 3.3% | 0% | −6.9 pips |
| Wed 25 Mar 2026, 07:00 UTC | 3% | 3% | 0% | +7.9 pips |
| Wed 18 Feb 2026, 07:00 UTC | 3% | 3% | 0% | −1.1 pips |
| Wed 21 Jan 2026, 07:00 UTC | 3.4% | 3.3% | +0.1% | +6.2 pips |
| Wed 17 Dec 2025, 07:00 UTC | 3.2% | 3.5% | −0.3% | −51.3 pips |
| Wed 19 Nov 2025, 07:00 UTC | 3.6% | 3.6% | 0% | −8.4 pips |
| Wed 22 Oct 2025, 06:00 UTC | 3.8% | 4% | −0.2% | – |
UK CPI Previews
Aisha RahmanUK CPI FAQ
When is the next UK CPI release?
The next UK CPI release is scheduled for Wed 18 Nov 2026, 07:00 UTC. Dates come from the economic calendar and can change.
How much does GBP/USD move after UK CPI?
Over the last 11 releases, the typical move in GBP/USD one hour after UK CPI was 6.9 pips, and 21.4 pips after four hours (median sizes, either direction). The largest one-hour move was 51.3 pips on 17 Dec 2025. Past moves are not a forecast of the next release.
What does a figure above or below the estimate mean?
The estimate is the consensus of economists' forecasts before the release. Markets price in that number, so prices react mainly to the surprise: the gap between the actual figure and the estimate, and to revisions of earlier months, rather than to whether the figure is high or low.
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