The post UK inflation ticks up to 2.2% YoY in July, back above BoE’s 2.0% target appeared on BitcoinEthereumNews.com.

United Kingdom annual CPI increased 2.2% in July vs. the expected 2.3% print. British inflation drops 0.2% MoM in July vs. +0.1% previous.  GBP/USD drops toward 1.2800 after UK CPI inflation data. The United Kingdom (UK) Consumer Price Index (CPI) rose at an annual rate of 2.2% in July after increasing by 2.0% in June, data released by the Office for National Statistics (ONS) showed on Wednesday.  The reading came in below the market expectations of a 2.3% growth, moving back above the Bank of England’s (BoE) 2.0% target. Core CPI (excluding volatile food and energy items) advanced 3.3% YoY in July, compared to a 3.5% increment in June while below the market consensus of 3.4%. The UK July Services CPI inflation fell sharply to 5.2% YoY in July versus June’s 5.7%, still above the 5.0% level. Meanwhile, the UK Consumer Price Index decreased by 0.2% MoM in July, having registered a 0.1% acceleration in June. GBP/USD reaction to the UK CPI inflation data The UK CPI data smashes the Pound Sterling, as the GBP/USD pair drops toward 1.2800. The pair is trading 0.23% lower on the day near 1.2825, as of writing. GBP/USD: 15-minutes chart British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Swiss Franc.   USD EUR GBP JPY CAD AUD NZD CHF USD   0.04% 0.28% 0.13% 0.09% -0.02% 1.05% -0.04% EUR -0.04%   0.23% 0.08% 0.03% -0.02% 0.98% -0.09% GBP -0.28% -0.23%   -0.11% -0.17% -0.26% 0.77% -0.28% JPY -0.13% -0.08% 0.11%   -0.05% -0.15% 0.87% -0.14% CAD -0.09% -0.03% 0.17% 0.05%   -0.10% 0.93% -0.09% AUD 0.02% 0.02% 0.26% 0.15% 0.10%   1.00% -0.03% NZD -1.05% -0.98% -0.77% -0.87% -0.93% -1.00%   -1.01% CHF 0.04% 0.09% 0.28% 0.14% 0.09%…

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Filed under: News - @ August 14, 2024 9:26 am