Negative surprise in inflation in the UK
Annual inflation in the UK slowed down less than expected in March.
While interest rate cut signals were coming from the Bank of England, the latest inflation data created a surprise.
Annual inflation in the country was 3.2 percent in March. Economists participating in the Bloomberg survey expected annual inflation to be 3.1 percent. Annual inflation was 3.4 percent in February.
Monthly inflation in March was 0.6 percent, the same level as February. In the Bloomberg survey, monthly inflation expectation was determined as 0.4 percent.
Core inflation also slowed down below expectations. Annual core inflation in the country was 4.2 percent in March. The expectation was 4.1 percent. Annual core inflation was 4.5 percent in February.