Bloomberg News

Pound Appreciates as U.K. Inflation Exceeds Economist Estimates

April 17, 2012

The pound extended its advance against the euro and the dollar after the Office for National Statistics said U.K. inflation accelerated in March for the first time in six months.

Britain’s currency appreciated 0.3 percent to 82.39 pence per euro at 9:36 a.m. London time. It traded 0.3 percent higher at $1.5945.

U.K. consumer prices rose 3.5 percent from a year earlier, up from a 3.4 percent increase in February. Economists surveyed by Bloomberg had said they expected the rate to stay unchanged.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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