British pound hits day’s minimums as UK inflation stands still

British pound hits day’s minimums as UK inflation stands still

On Tuesday, the British pound declined to the day’s minimums versus the US currency after data demonstrating that Britain’s annual inflation rate suddenly remained intact in July, thus relieving pressure on the Bank of England to lift rates.

The currency pair GBP/USD slid 0.36% trading at 1.2918.

Consumer prices rallied 2.6% versus 2016, as the Office for National Statistics informed. It’s moderately below economists' hopes for a 2.7% annual ascend.

Descending motor fuel prices were compensated by higher prices for utilities, clothes and food, as the ONS reported.

Excluding crude prices as well as other volatile components, including food, core consumer price inflation inched up by 2.4% from 2016, versus economists' hopes for 2.5%.

In July, the level utilized by the government to set rail fare hikes, the retail price index grew by an annualized 3.6% versus 3.5% in the previous month.

Financial experts had hoped for an intact outcome.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera