UK April CPI +2.3% vs +2.1% y/y expected ...Middle East

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UK April CPI +2.3% vs +2.1% y/y expected
Prior +3.2%Core CPI +3.9% vs +3.6% y/y expectedPrior +4.2%On the month itself, headline inflation was seen up 0.3% (vs 0.2% expected) and core inflation up 0.9% (vs 0.7% expected). But the annual readings reflect higher estimates than expected. That said, they are still lower than in March owing to Ofgem lowering the energy price cap by 12% starting from April. The impact of that is a hard one to gauge but I reckon traders will take this as being stickier inflation, especially with annual services inflation seen at 5.9% (vs 5.5% expected).The last point is perhaps where I'd draw the line on this being a hotter-than-expected report.GBP/USD has moved higher to 1.2740 levels now, its highest si

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