Sterling Tumbles as UK Inflation Stagnates

The Pound dropped to a one month-low against the US Dollar and dipped below the €1.10 mark, when the Office for National Statistics (ONS) published data regarding UK inflation, the UK retail price index and the producer prices index.

According to the ONS report, inflation in July remained stable at 2.6%, missing the market’s expectations for a rise at 2.7%.

Pound 1a coin LLLLThe retail price index edged up higher than expected at 3.6%, raising prospects for steep rail fare increases.

House prices rose by 4.9% in June, which is the weakest pace recorded since…

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