Consumer Price in the UK fell to 2.8%. Expectations were for no change at 3% – the top border of the 1-3% target. Also other inflation indicators fell below expectations. This may be good news for the British consumer, but for the pound it means a drop: GBP/USD is now at 1.5635 after falling as low as 1.5621. It was capped by the round 1.57 line earlier in the day. On a monthly basis, CPI for May dropped by 0.1%. The slide in oil prices during this month had its contribution. The annual rate of 2.8% is the lowest since the end of 2009. Inflation was above target for a long time, and the central bank didn’t really act – as it was pushed by commodity prices. Despite more QE in recent months, inflation fell into range. The Retail Price Index (RPI) stands at 3.1%, lower than last month’s 3.5% and also below expectations that stood on 3.1%. Core CPI rose from 2.1% to 2.2%, but was also short of predictions for 2.3%. For more on the pound, see the Pound USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex News share Read Next German Economic Sentiment Goes Negative – EUR/USD Slides Yohay Elam 9 years Consumer Price in the UK fell to 2.8%. Expectations were for no change at 3% - the top border of the 1-3% target. Also other inflation indicators fell below expectations. This may be good news for the British consumer, but for the pound it means a drop: GBP/USD is now at 1.5635 after falling as low as 1.5621. It was capped by the round 1.57 line earlier in the day. On a monthly basis, CPI for May dropped by 0.1%. The slide in oil prices during this month had its contribution. The annual rate of 2.8% is the lowest since… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
