=The EUR/GBP cross edges higher to near 0.8570 during the early European session on Wednesday.
EUR/GBP gathers gains ground near 0.8570 in Wednesday’s early European session. The UK annual CPI increased 2.2% in July vs. 2.3% expected. Investors will keep an eye on the Eurozone Q2 GDP data on Wednesday. The Cable loses traction after the UK Consumer Price Index inflation data for July. Investors await the Eurozone Gross Domestic Product for the second quarter , which is due later in the day. Data released by the Office forNational Statistics showed on Wednesday that the UK CPI rose 2.
Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%. What is the Consumer Price Index ? The Consumer Price Index measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month and year-on-year basis.
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