Pound Gains Slightly On CPI Data

The pound was slightly firmer after the November CPI report showed that annual inflation slowed from 4.5% in October to 4.1% in November. The November retail price index was up 3% on the year, against the consensus view of 3.2%. The November retail price index excl. Mortgage interest Payments was up 3.9% on year, against the consensus for a 4% rise.

The pound was $1.5230 and 1.1150 against the euro at 9.45am GMT.