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    Home » Reopening in the U.K. Pushes Inflation 2.1% Higher in May
    Forex News

    Reopening in the U.K. Pushes Inflation 2.1% Higher in May

    June 16, 20211 Min Read
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    Reopening of the U.K. economy in May led to a 2.1% increase in inflation as the cost of fuel, clothes, and meals shot up.

    • Economists had predicted a 2% increase; the 2.1% May increase was the highest since that of July 2019.
    • Prices of food and energy shot to 2%, the highest since August 2018.
    • Release of the statistics led to an increase in the pound trading at 0.23% more against the dollar at $1.411, Britain’s FTSE 100 stock went up 0.27%.

    Economists expressed concern that U.K.’s CPI may increase beyond the 2% aimed by England, but are optimistic that the situation could change in 2022.

    FTSE 100 is up 0.05%, GPBUSD is up 0.23%

    Source: Office for National Statistics

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