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13 June

By Ahmed Mamdouh

Category: Forex News

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UK CPI inflation holds at one-year low in May

U.K. consumer prices remained unchanged at the lowest level in one year in May, the Office of National Statistics data showed Wednesday.

The consumer price index for the year ended May remained at 2.4 percent, moving in line with forecasts. That was the lowest level since March 2017.

Annual core CPI reading, stripping out food and energy, also lingered at 2.1 percent, matching analysts’ projections.

The GBPUSD pair resumed its plunge for a fourth straight session to 1.3333 after hitting a bottom at 1.3307.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.