{"id":46857,"date":"2023-06-21T11:41:00","date_gmt":"2023-06-21T10:41:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=46857"},"modified":"2023-06-21T21:06:43","modified_gmt":"2023-06-21T20:06:43","slug":"midday-brief-hot-uk-inflation","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/","title":{"rendered":"Midday Brief – Hot UK Inflation"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

This morning the British pound<\/a> failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved.<\/p>

Market expectations were easily beat as the consumer price inflation in the United Kingdom held steady at 8.7 percent in May 2023, unchanged from the previous month’s 13-month low and above market expectations of 8.4 percent.<\/p>

Also, the rate remained significantly higher than the Bank of England’s target of 2.0 percent, adding to concerns about its stickiness and placing additional pressure on policymakers to maintain the bank’s ongoing tightening campaign.<\/p>

The OIS noted that “Based on OIS pricing, a 25-bps rate hike is 100% priced in for this week and I don’t see that changing regardless of the data. What matters now more for the pound and UK rates is the terminal pricing. That is now seen at around 5.83%, which means there is a long way to go with the bank rate now at 4.50%.”<\/em><\/p>

Rising prices for air travel (31.4 percent vs 12.6 percent in April), recreational and cultural goods and services (6.7 percent vs 6.3 percent), and second-hand cars (3.9 percent vs 1.2 percent) were enough to offset falling fuel costs (-13.1 percent vs -8.9 percent) and slowing food inflation (18.3 percent vs 19.0 percent).<\/p>

The United Kingdom core inflation rate, which excludes volatile items such as energy, food, alcohol, and tobacco, rose to 7.1 percent, the highest since March 1992.<\/p>

Consumer prices in the United Kingdom rose by 0.7 percent month-over-month in May 2023, following a 1.2 percent increase in April and beating market expectations of 0.5 percent.<\/p>

Ifo forecasts that the German economy will shrink by 0.4% this year. As a revision lower to their previous forecast that the German economy will contract by 0.1% in 2023.<\/p>

As for 2024, they also see softer growth with a forecast of 1.5% as compared to 1.7% previously. On the inflation front, Ifo notes that German inflation is expected to be at 5.8% this year before falling to 2.1% next year.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

This morning the British pound failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved. Market expectations were easily beat as the consumer price inflation in the United Kingdom held steady at 8.7 percent in May 2023, unchanged from the previous month’s […]<\/p>\n","protected":false},"author":4,"featured_media":40747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[56,75,653],"yoast_head":"\nMidday Brief - Hot UK Inflation - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief - Hot UK Inflation Midday Brief - Hot UK Inflation\" \/>\n<meta property=\"og:description\" content=\"This morning the British pound failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-21T10:41:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T20:06:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/gettyimages-1436679090.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"493\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Midday Brief - Hot UK Inflation Midday Brief - Hot UK Inflation\" \/>\n<meta name=\"twitter:description\" content=\"This morning the British pound failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Midday Brief – Hot UK Inflation\",\"datePublished\":\"2023-06-21T10:41:00+00:00\",\"dateModified\":\"2023-06-21T20:06:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\"},\"wordCount\":321,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"BoE\",\"Pound\",\"UK Inflation\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\",\"url\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\",\"name\":\"Midday Brief - Hot UK Inflation - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2023-06-21T10:41:00+00:00\",\"dateModified\":\"2023-06-21T20:06:43+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Midday Brief – Hot UK Inflation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Midday Brief - Hot UK Inflation - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/","og_locale":"en_GB","og_type":"article","og_title":"Midday Brief - Hot UK Inflation Midday Brief - Hot UK Inflation","og_description":"This morning the British pound failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved.","og_url":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2023-06-21T10:41:00+00:00","article_modified_time":"2023-06-21T20:06:43+00:00","og_image":[{"width":800,"height":493,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/01\/gettyimages-1436679090.jpg","type":"image\/jpeg"}],"author":"Nathan Batchelor","twitter_card":"summary_large_image","twitter_title":"Midday Brief - Hot UK Inflation Midday Brief - Hot UK Inflation","twitter_description":"This morning the British pound failed to capitalise on higher-than-expected CPI inflation data from the United Kingdom, as a short-lived spike towards the 1.2800 level was short loved.","twitter_misc":{"Written by":"Nathan Batchelor","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/"},"author":{"name":"Nathan Batchelor","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab"},"headline":"Midday Brief – Hot UK Inflation","datePublished":"2023-06-21T10:41:00+00:00","dateModified":"2023-06-21T20:06:43+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/"},"wordCount":321,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["BoE","Pound","UK Inflation"],"articleSection":["Markets"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/","url":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/","name":"Midday Brief - Hot UK Inflation - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2023-06-21T10:41:00+00:00","dateModified":"2023-06-21T20:06:43+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/midday-brief-hot-uk-inflation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"Midday Brief – Hot UK Inflation"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab","name":"Nathan Batchelor","description":"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.","url":"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/46857"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=46857"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/46857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/40747"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=46857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=46857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=46857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}