British inflation jumps

British inflation jumps

The UK’s key inflation rate rallied in February, although stayed close to January's two-year minimum, assisting customers to preserve their spending power even as Brexit was still uncertain.

Additionally, Wednesday's official data also revealed that home prices went up at the weakest annual tempo observed in five-and-a-half years, suppressed by London prices diving by the most since September 2009, after the low point of the world’s financial downtime.

As a matter of fact, consumer prices went up at an annual rate of 1.9% last month, following January’s 1.8% leap. Market experts had hoped for a 1.8% ascend.

However, core inflation slumped, thus leaving the entire picture of domestic price pressures in the United Kingdom muted ahead of Brexit.

The weakening of inflation, along with the lowest unemployment rate for 44 years as well as soaring wages, has somewhat soothed the uncertainty as for Brexit for numerous households whose spending powers the British economy.

Data due for the publication on Thursday is anticipated to reveal retail sales rallied by an annual 3.3% in February, which is weaker than before the Brexit referendum in 2016, although above its average for much of the previous decade.

The UK’s moderate inflation rate is also assisting Britain’s key bank as it holds off on fresh interest rate lifts, while it awaits the result of the UK’s Brexit impasse.

For the last couple of weeks a group of statesmen at the major financial institution have told that they are eager to see firm evidence of domestic inflation pressure mounting before they vote to lift rates.

Meanwhile, in London, prices went down by about 1.6%, thus marking the 11-month period when prices haven’t soared.

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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