Sterling gains as UK inflation slows by less than anticipated ...Middle East

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Sterling gains as UK inflation slows by less than anticipated
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It was always going to be tough to get a good read of the UK CPI report today. To be more precise, in gauging the impact of Ofgem lowering the energy price cap by 12% in April. The inflation numbers were always going to be lower but by how much? Both the headline and core annual inflation numbers reflected a drop but not as per forecast. However, the key giveaway for why this is a hotter-than-expected report is in the services inflation numbers.That is seen at 5.9%, as compared to the estimate of 5.5%. And it is just mildly lower than the 6.0% reading in March.In any case, sterling has moved higher as a result with GBP/USD up from around 1.2710 earlier to 1.2740 levels currently. I don't thi

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