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A Number of positive macro data last week from the UK, contributed to some strengthening of the pound and the pair GBP/USD has reached the beginning of a new month, a more than 2-year lows near the 1.2020. In all, over the last three months the GBP/USD pair declined by 6.5%.
As reported by the National Bureau of statistics the UK consumer prices in July rose 2.1% (yoy) after rising 2% in June. The forecast was +1.9 percent. The increase in basic prices was also above expectations at +1.9 percent.
According to the National Bureau of statistics, output prices in July also increased (1.8% compared to the same period of the previous year), which is another sign of the rise of inflationary pressures in the economy as a whole.
In the coming months we should expect further growth in prices as a result of the weakening of the pound, followed by higher prices of imports.
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