Inflation softer than expected in April; Retail Price Index m/m ticks higher
The London’s Office for National Statistics announced an increase of 0.6% in UK Consumer Price Index m/m in line with expectations compared to 0.3% previously. On a yearly basis, CPI came out at 3.0% versus 3.1% expected from 3.5% on the last release.
This release confirmed the Bank of England’s statement that CPI inflation would remain above the 2% target “for the next year or so”.
We also have the UK RPI m/m which climbed to 0.7% in April against consensus for 0.6% versus 0.4% previously.
The cable dropped 70 pips after the announcement, and traded around 1.5780 at the time of writing.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.