Inflation higher than expected

This morning’s UK inflation figures are slightly higher than expected, moving the Pound a little higher.

Retail prices were unchanged in July, taking the annual inflation rate up to 4.4%, a little higher than the 4.3% expected, while the core CPI measure increased from 2.8% to 3.1%.

The news has improved exchange rates slightly if you are booking a rate for a currency transfer this morning, more so against the Euro than elsewhere as the Eurozone trade balance and GDP were worse than expected, giving some Euro weakness.

Tomorrow we have the Bank of England minutes and UK unemployment figures both released in the morning.