UK CPI rises above analysts’ forecasts

UK CPI rises above analysts’ forecasts

U.K. consumer prices came higher than forecasts, as it recorded 2.7 percent in the year ended April, the highest level since the summer of 2013, from the prior 2.3 percent rise. Analysts had predicted a 2.6 percent increase.

The Core CPI reading posted 2.4 percent advance, accelerating from 1.8 percent in March.

PPI input rose 0.1 percent on the monthly basis, in comparison to both revised and estimated readings of 0.0 percent and 0.1 percent respectively.

Annual RPI showed 3.5 percent soar from the preceding of 3.1 percent, moving higher than analysts’ projections of 3.4 percent.

As of 08:50 GMT, the pound traded higher for a second straight session versus the U.S. dollar at 1.2924 after opening today’s trades at 1.2894.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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