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Inflation data in the spotlight

Posted by X-Trade Brokers, XTB in May 14th 2008  
Higher than expected CPI inflation reading in the UK makes it less probable that the Bank of England will cut interest rates one more time this year. In April, CPI inflation rose in the UK by 0.8% on a monthly and by 3.0% on a yearly basis, which is the highest level since March of 2007. The reading are much above forecasts of 0.5% and 2.6%. The published data confirms increasing inflation in the United Kingdom. Yesterday’s PPI report showed growing inflation by 1.4% on a monthly and 7.5% on a Read More...

Filed under: Fundamental