On Wednesday the Office for National Statistics in the UK released its report on the yearly Consumer Price Index, which remains to be at the previous level of 1.9%, thusly missing the forecasts with a 0.1%.
According to the governmental agency, most of the broader categories of goods and services had a positive effect on the 12-month CPI, except the industry for clothing and footwear, and the prices in the entire sector have registered a total of 1.6% drop in the year to March 2019, which is the prime factor for the inflation rate not missing its target.
On the other hand, the best performing sector was housing and housing services, including transport, which contributed most to the inflation rate with 1.4%.
As a result of the rising prices in housing, the pound was able to find strength and appreciate against the euro, thereby breaking the recent bullish momentum in the EUR. The EURGBP fell with 0.22% in the day following the release of the data.
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