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In June, prices in UK shops went down at the slowest annual tempo since November 2013, as the British Retail Consortium informed on Wednesday, telling it actually expects soaring inflation pressure to prompt outright price leaps soon.
Overall shop prices inched down 0.3% year-on-year in June, unlike a 0.4% in May. As for te food price component, it grew 1.4%.
The Bank of England is currently monitoring gauges of inflation pressure in the British economy, as it considers whether to lift interest rates from their record minimum or not.
Obviously, the year on year numbers debunk the fact that prices have been climbing up for the last six months. As follows from the considerable deflation in the second half of 2016, there has been huge ground to make up in the year on year data.
Cost pressures experienced by retailers keep mounting.
For the last four years the BRC price index has demonstrated a deflationary trend, provoked by supermarkets engaging in a price feud war and dipping global crude and food prices.
In August, American home sales stood still, although inventory added for the first time for three years because the housing market kept struggling notwithstanding strength across the broader American economy…
The Canadian dollar has chances to keep trading at good levels. According to the recent statement of the Bank of Canada, the country’s economic data are in line with the forecasts.
The main focus today is on the UK retail sales, which are expected to fall by 0…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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