United Kingdom Consumer Price Index (MoM) June 0.1% Vs. 0.4% Est; 0.7% Prior; CPI (YoY) June 7.9% Vs. 8.2% Est.; 8.7% Prior
Portfolio Pulse from Benzinga Newsdesk
The United Kingdom's Consumer Price Index (CPI) for June came in at 0.1% month-on-month, lower than the estimated 0.4% and the prior 0.7%. The year-on-year CPI for June was 7.9%, also lower than the estimated 8.2% and the prior 8.7%.
July 19, 2023 | 6:01 am
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NEGATIVE IMPACT
The lower than expected CPI figures for the UK may impact the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the UK market.
The CPI is a key economic indicator that can influence market sentiment. Lower than expected figures may suggest a slower pace of inflation, which could be interpreted as a sign of economic weakness. This could negatively impact the sentiment towards UK stocks, and therefore the EWU ETF, which tracks the UK market.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100