Consumer price inflation, UK: November 2023 | Crypto Craft

  • Consumer price inflation, UK: November 2023

    From ons.gov.uk

    The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 4.2% in the 12 months to November 2023, down from 4.7% in October. On a monthly basis, CPIH fell by 0.1% in November 2023, compared with a rise of 0.4% in November 2022. The Consumer Prices Index (CPI) rose by 3.9% in the 12 months to November 2023, down from 4.6% in October. On a monthly basis, CPI fell by 0.2% in November 2023, compared with a rise of 0.4% in November 2022. The largest downward contributions to the monthly change in both CPIH and CPI annual rates came from transport, recreation and culture, and food and non-alcoholic ... (full story)

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swagtrading
Dec 20, 2023 1:25am
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Quoting Vancarbon
It’s also pure electioneering and BS . We have more stealth taxes to come , increased electricity prices and food prices are not reducing . Pure propaganda to build a case for the BOE to reduce rates. Bailey is smarter than the propaganda and won’t bow to the demands
These guys not saying that prices are now falling. Its just that they are still increasing, but at a smaller rate than previously.

For prices to fall, there has to be deflation or -ve inflation.
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swd
Dec 20, 2023 2:03am
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Quoting Vancarbon
Let me spell it out. There’s a global campaign coming into election year for the narrative to change on inflation. One of the core components and one within reach and is being manipulated is energy prices. Energy prices are not coming down longer term it’s all a facade
Totally agree. I alluded to this before but unfortuantely was lectured instead about what inflation is rather than the key message of manipulation of data. Won't bother again, let the electorate decide when they are sitting on the wrong side of it.
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Banditten
Dec 20, 2023 6:08am
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Quoting Vancarbon
Let me spell it out. There’s a global campaign coming into election year for the narrative to change on inflation. One of the core components and one within reach and is being manipulated is energy prices. Energy prices are not coming down longer term it’s all a facade
I think oil will test the 50 dollar mark before summer 24 ((:
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jordanvic
Dec 20, 2023 6:59am
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Quoting turnip15
{quote} Then crashed just now -9:35am UK time
it did. theres probably institutions who made a lot on this
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MatTrader101
Dec 20, 2023 1:36am
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Quoting swagtrading
{quote} These guys not saying that prices are now falling. Its just that they are still increasing, but at a smaller rate than previously. For prices to fall, there has to be deflation or -ve inflation.
Yeah 99% of people don't understand what this data means, prices are still increasing we would have to have disflation -5% for 2 years for prices to go back to pre pandemic levels which ain't happening. That inflation spike we have now is going to affect us for 10+ years


The only reason GBP isn't down to 1.19 is simply because of high interest rates, which now analyst price over 140 bps of rate cuts, at a faster rate than the FED. Dollar strength is here to stay for the next year at least
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MatTrader101
Dec 20, 2023 2:24am
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Quoting jordanvic
FTSE on fire because of this
Pump and dump in 2024 when they realise that UK is completely ruined and inflation is here to stay, councils are bankrupting left and right, mortgages are nearly at all time highs, mortgage arrears are increasing dramatically its a ticking time bomb
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MatTrader101
Dec 20, 2023 3:20am
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Quoting FirmaForex
CPI lower than expected at 3.9% and the GBP dropped like a stone, that was a surprise to me.
? It's pretty simple, GBP was propped up due to high inflation = higher interest rates for longer... because inflation is dropping like a rock, GBP shouldn't retain it's strength as the fundamentals are extremely poor for the economy.
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MatTrader101
Dec 20, 2023 4:55am
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Quoting Sennerd
QT is deciding this - not interest rates. The lag effect and consequences are building up. We are heading for deflation and big trouble followed by panic triggering QE. A lot of people are going to be financially wiped.
58% of americans own stocks, at the moment NasDAQ and SP500 are both in parabollic move ups, and we all know thats going to end very soon and it won't be a trickle down, it will be a massive slide and majority of americans will be wiped, a reset needs to happen to much froth and free money around from the pandemic era.
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DaJoWaBa
Dec 20, 2023 7:01am
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Relativity to consider: after the earlier released CPI, GU drops nearly a cent, which means an instant rise of about 0.8% on imported energy prices for the UK. Expect the BoE to maintain the current rates well into 2024.
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Ericedge
Dec 20, 2023 4:20am
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Too early for boe to declare victory on inflation since they have not met the 2% target.My friends that re based in the uk re still complaining about high cost of goods n services.So i see the cable flying to the moon.
Trader#5881
Dec 20, 2023 1:27am
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Quoting swagtrading
{quote} These guys not saying that prices are now falling. Its just that they are still increasing, but at a smaller rate than previously. For prices to fall, there has to be deflation or -ve inflation.
Exactly! CB's should induce deflationary recession to bring the prices down and not go for 2% inflation rate.

We need a decent period of deflation first, however CB's are already giving up and inflation rate is not even at 2% let alone approaching deflation.

I think hyper-inflation is very reasonable outcome in the future.
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turnip15
Dec 20, 2023 3:42am
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Quoting jordanvic
FTSE on fire because of this
Then crashed just now -9:35am UK time
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jordanvic
Dec 20, 2023 2:13am
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FTSE on fire because of this
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blaseit28
Dec 20, 2023 1:28am
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cable longs into 1.28?? seems likely with the greenback still on the slide. nice fib on the hourly, might be worth a shot from here.
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Sennerd
Dec 20, 2023 4:38am
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QT is deciding this - not interest rates. The lag effect and consequences are building up. We are heading for deflation and big trouble followed by panic triggering QE. A lot of people are going to be financially wiped.
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Ftmofx
Dec 20, 2023 1:10am
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sell GBP long
Trader#5881
Dec 20, 2023 1:10am
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I was expecting 4.1% Y/Y CPI and 5.1% Core CPI Y/Y hahaha..

Got one right. Anyway, this is a very nice retracement we have on GBP/USD ans one should start thinking about adding some longs here or at some near support, because the trend is up.
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FirmaForex
Dec 20, 2023 3:05am
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CPI lower than expected at 3.9% and the GBP dropped like a stone, that was a surprise to me.
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