Tue Aug 12, 3:30pm (GMT +7:00) : GBP : High Impact Expected : CPI y/y

Source National Statistics (latest release)

Measures Change in the price of goods and services purchased by consumers;

Usual Effect Actual > Forecast = Good for currency;

Frequency Released monthly, about 15 days after the month ends;

Next Release Sep 16, 2008

FF Notes This is considered the UK's most important inflation data because it's used as the central bank's inflation target;

Why Traders
Care Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;

Derived Via The average price of various goods and services are sampled and then compared to the previous sampling;

Acronyms Consumer Price Index (CPI);