{"id":114507,"date":"2023-05-31T07:00:04","date_gmt":"2023-05-31T06:00:04","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114507"},"modified":"2023-06-02T07:15:13","modified_gmt":"2023-06-02T06:15:13","slug":"107583-gbp-eur-euro-looks-to-german-inflation-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107583-gbp-eur-euro-looks-to-german-inflation-data\/","title":{"rendered":"GBP\/EUR: Euro looks to German inflation data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises after shop inflation hits record high<\/strong><\/li>\n<li><strong>UK food inflation cools<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls after Spanish inflation cooled<\/strong><\/li>\n<li><strong>German inflation is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising after losses yesterday. The pair fell -0.22% in the previous session, settling on Wednesday at \u20ac1.1499 and trading in a range between \u20ac1.1479 &#8211; \u20ac1.1564. At 10:35 UTC, GBP\/EUR trades +0.27% at \u20ac1.15300.<\/p>\n<p>The pound rose in the previous session UK stop inflation rose to a record high in May, up from 8.8% in April. According to the British Retail Consortium, this was the fastest pace for price rises since records began in 2005. However, food inflation actually cool slightly to 15.4% in May, down from 15.7%, a record high in April.<\/p>\n<p>The slowdown in food inflation was largely due to lower energy and commodity costs starting to filter through supply chains.<\/p>\n<p>The data comes as the Bank of England is widely expected to raise interest rates again by 25 basis points in May as the central bank continues to fight against elevated inflation.<\/p>\n<p>Today is another quiet day for the economic calendar, and no BoE officials are due to speak. As a result, the pound will likely be driven by sentiment.<\/p>\n<p>The euro came under pressure yesterday after Spanish inflation cools by more than expected in April. Spanish consumer prices eased to 3.2% year on year in May, down from 4.1% in April and below the 3.5% forecast.<\/p>\n<p>Meanwhile, Eurozone economic sentiment deteriorated by more than expected, adding to growth worries in the region. Weak growth and falling inflation outlook suggest that the peak ECB rate is getting nearer.<\/p>\n<p>Looking ahead, the focus remains very much on inflation with the release of German inflation data, which is expected to have cooled to 6.5% year on year in May down from 7.2% in April. Cooling inflation eases the pressure on the ECB to raise interest rates aggressively, which could pull the euro lower.<\/p>\n<p>In addition to German inflation data, ECB President Christine Lagarde is due to speak.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises after shop inflation hits record high UK food inflation cools Euro (EUR) falls after Spanish inflation cooled German inflation is due The Pound Euro (GBP\/EUR) exchange rate is rising after losses yesterday. The pair fell -0.22% in the previous session, settling on Wednesday at \u20ac1.1499 and trading in a range between \u20ac1.1479 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-114507","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro looks to German inflation data - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/107583-gbp-eur-euro-looks-to-german-inflation-data\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro looks to German inflation data\",\"datePublished\":\"2023-05-31T06:00:04+00:00\",\"dateModified\":\"2023-06-02T06:15:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/\"},\"wordCount\":336,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100541-gbp-eur-german-coalition.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107583-gbp-eur-euro-looks-to-german-inflation-data\\\/\",\"name\":\"GBP\\\/EUR: Euro looks to German inflation data - 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