UK March CPI +10.1% vs +9.8% y/y expected

• Prior +10.4%
• CPI +0.8% vs +0.5% m/m expected
• Prior +1.1%
• Core CPI +6.2% vs +6.0% y/y expected
• Prior +6.2%
• Core CPI +0.9% vs +0.6% m/m expected
• Prior +1.2%

UK headline annual inflation continues to sit in double-digits with core annual inflation remaining unchanged in March when compared to February. The monthly readings also come in hotter-than-expected and this continues to exert further pressure on the BOE to hike rates next month.

Looking at the details, the upward contributions to monthly inflation are from food prices, and recreation and culture - offset by downward contributions from motor fuels, and housing and household services.

GBP/USD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term has jumped slightly higher on the report from 1.2415 to 1.2430 levels at the moment, as this should seal the deal of a 25 bps rate hike by the BOE in May.