Pre-London: UK CPI hot at 3.5%, Brent back above 110

Pre-London: UK CPI hot at 3.5%, Brent back above 110

• Overnight: UK CPI 3.5% y/y vs 3.4% (prior 3.1%), 0.4% m/m vs 0.3%, core 2.8% vs 2.7%, services 3.7% vs 3.6%, PPI input 8.3% vs 7.2%, PSNB 24.5bn vs 23.9bn; Japan exports 16.7% vs 20.1%, trade balance -536.6bn yen vs -181bn

FO view: Hotter UK inflation has not lifted sterling so far, while December Brent back above 110 keeps energy pass-through in focus.

21 Oct 2026, 10:24 GST | 07:24 UK (BST)

Not investment advice.