UK inflation remains high
According to data released yesterday from the UK's Office of National Statistics, consumer prices rose by 8.7% in annualised terms and by 0.7% compared to April.
According to data released yesterday from the UK's Office of National Statistics, consumer prices rose by 8.7% in annualised terms and by 0.7% compared to April. Analysts expected the indicators to drop to 8.5% and 0.4%, respectively. The slow pace at which inflation is falling could force the Bank of England to once again tighten its monetary policy, a move that supports the pound.
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