(Source: Yahoo! Finance)
*Pound falls after lower than expected inflation
The pound slid against the dollar following the biggest fall in UK inflation in a year. The consumer price index dropped to 2.4 per cent in April, a faster than expected move as analysts had expected a drop to just 2.6 per cent (from 2.8 per cent prior).
The retail price index also fell, from 3.3 per cent to 2.9 per cent. The Bank of England has now held interest rates for 50 months while inflation is not expected to return to the Bank's two per cent target for at least two years.
Uk cpi 2.4. Core 2%. We are getting poorer more slowly but this is probably the low for now— kit juckes (@kitjuckes) May 21, 2013
Welcome fall in inflation but still a huge real wage squeeze. RPI at 2.9% vs weekly earnings at 0.8% (regular pay) or 0.4% (total pay).— Duncan Weldon (@DuncanWeldon) May 21, 2013
Economist watch: Not one of the 29 polled by Reuters got UK inflation right. Range was 2.5% to 2.9%. Figure was 2.4%.— Jamie McGeever (@ReutersJamie) May 21, 2013