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Pound Rises as Data Shows Growth of Consumer Prices

August 18, 2015 at 10:19 by Vladimir Vyun

Stack of coins on 10-pound and 20-pound billsThe Great Britain pound demonstrated a big jump today, touching the highest level in a month and a half following the release of inflation data. The report showed that consumer prices rose last month, albeit just marginally.

The UK Consumer Prices Index was up 0.1 percent in July from a year ago. However small has been the growth, it was still better than the forecasts that promised no growth at all. Most other price indexes were better than expectations too. The Bank of England watches inflation data closely, and the positive report may encourage policy makers to be bolder in their decisions.

GBP/USD surged from 1.5582 to 1.5707 as of 10:17 GMT today, touching the highest level since July 1. GBP/JPY jumped from 193.78 to 195.17, trading close to the strongest rate since June 24.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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