UK inflation rises to 3.5% in September, above 3.4% forecast
UK consumer price inflation came in at 3.5% year-on-year, above the 3.4% consensus and up from 3.1% the previous month. Currency, gold and equity index futures showed limited movement in the 30 minutes that followed.
UK consumer price inflation (CPI) for September rose to 3.5% year-on-year, released at 06:00 GMT on Wednesday 21 October 2026. The figure came in 0.1 percentage points above the 3.4% consensus and up from 3.1% in the prior month.
GBP/USD moved from 1.3375 just before the release to 1.3373 thirty minutes later, a fall of 2 pips, or 0.02%, after trading in a 16-pip range between 1.3366 and 1.3381. EUR/USD slipped from 1.1226 to 1.1222, down 4 pips (0.03%), within a 6-pip range.
USD/JPY edged down from 158.17 to 158.15, a 2-pip move, with a 6-pip range. Gold futures fell 0.07%, from 4136.10 to 4133.30, while S&P 500 E-mini futures dipped 0.02%, from 7772.75 to 7771.50. The US 2-year Treasury yield rose 2 basis points on the day.
Inflation readings that come in above forecast, like this one, are watched for their effect on interest rate expectations, which can move currency, bond and equity futures markets in the period around the release.
Moves: last price before the release to the price 30 minutes later, from 1-minute data (Yahoo Finance); S&P 500 = E-mini futures, gold = COMEX futures. US 2-year yield: change on the day. Sources: US Treasury daily par yield curve