Bloomberg News

Pound Stays Lower Versus Euro as Data Shows U.K. Inflation Slows

October 16, 2012

The pound stayed lower against the euro after a report showed U.K. inflation slowed to the least in almost three years in September.

Sterling was 0.2 percent weaker at 80.74 pence per euro at 9:32 a.m. London time and was 0.2 percent stronger at $1.6098.

Consumer prices rose 2.2 percent from a year earlier, the least since November 2009 and down from a 2.5 percent gain in August, the Office for National Statistics said today in London. That matched the median forecast of 37 economists in a Bloomberg News survey.

U.K. government bonds stayed lower after the data, with the 10-year gilt yield rising one basis point to 1.77 percent.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net


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