wrapper

UK CPI surged by 2.3%

Tuesday, Mar 21 2017
UK CPI surged by 2.3%

UK consumer prices rose 0.7% in February compared with expectations of a 0.5% increase and the year-on-year rate increased to 2.3% from 1.8%. This was above consensus forecasts of an increase to 2.1% and was also the highest reading since September 2013. The annual rate was also above the Bank of England’s 2% target for the first time since late 2013. Core inflation rose to 2.0% from 1.6% previously while the RPI inflation rate increased to 3.2% from 2.6%.

The higher than expected inflation rate increased speculation that the Bank of England would be forced to tighten monetary policy more quickly than expected. This shift in expectations was fueled by last week’s policy decision where Forbes voted to increase interest rates immediately due to inflation concerns. Some other MPC members also suggested that a further increase in inflation could push them closer to recommending a rate hike sooner than expected.

More in this category: « Euro up as Macron appears to win the first debate US Current Account deficit narrowed to $112 billion in Q4 »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.