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British inflation slowed unexpectedly last month

British inflation slowed unexpectedly last month | 20 October 2021

20 October 2021, GBP/USD

British inflation slowed unexpectedly last month

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British inflation slowed unexpectedly last month. Consumer prices rose 3.1% in annual terms in September, easing back from 3.2% in August, the Office for National Statistics said. The hospitality sector was the largest drag on inflation last month - the result of the “Eat Out to Help Out” restaurant meal subsidy scheme launched in August 2020 dropping out of the annual comparison. Last month the BoE said it expected inflation to rise slightly above 4% in the last quarter of 2021 but since then energy prices have continued to rise sharply. BoE Governor Andrew Bailey sent a latest signal that the British central bank was gearing up to raise rates for the first time since the onset of the coronavirus crisis as the risks from inflation mounted.

Investment idea: buy 1.3750 and take profit 1.3820.

David Johnson
Analyst of «FreshForex» company
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