U.K. Consumer Price Index (MoM) For February 0.6% Vs. 0.7% Est.; -0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Consumer Price Index (CPI) for February showed a month-on-month increase of 0.6%, which is slightly below the estimated 0.7% but represents a significant change from the -0.6% reported in the previous month.
March 20, 2024 | 7:01 am
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The U.K. CPI data for February indicates a month-on-month increase, suggesting a potential impact on the iShares MSCI United Kingdom ETF (EWU) due to its exposure to the U.K. economy.
The CPI data is a key economic indicator that can influence investor sentiment towards markets associated with the economy in question. For EWU, which tracks the investment results of an index composed of U.K. equities, positive inflation data suggests economic growth, which could lead to increased investor confidence in the U.K. market and potentially drive up the price of EWU in the short term.
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