{"id":117805,"date":"2024-05-28T18:20:43","date_gmt":"2024-05-28T17:20:43","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117805"},"modified":"2024-05-30T15:39:40","modified_gmt":"2024-05-30T14:39:40","slug":"109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\/","title":{"rendered":"GBP\/EUR: Pound falls as shop inflation cools to a 2-year low"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is falling after yesterday\u2019s gains<\/strong><\/li>\n<li><strong>Shop inflation eased to back to normal<\/strong><\/li>\n<li><strong>Euro (EUR) rises after German wholesale inflation<\/strong><\/li>\n<li><strong>ECB still on track to cut rates<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is falling after gains yesterday. The pair rose +0.18% in the previous session, settling on Monday at \u20ac1.1758 and trading in a range between \u20ac1.1731 and \u20ac1.1772. At 16:00 UTC, GBP\/EUR trades -0.07% at \u20ac1.1750.<\/p>\n<p>The pound also came under pressure after the British Retail Consortium revealed that UK shop price inflation is back to normal, falling to its lowest level since 2021.<\/p>\n<p>The BRC figures show that food inflation fell for a 13th straight month, declining to 3.2% in May, and overall inflation slid from 0.8% in April to 0.6% last month.<\/p>\n<p>Investors also weighed up a speech by Rachel Reeves, who could become the UK&#8217;s first female chancellor of the exchequer if the polls are correct and Labour wins the general election on July 4<sup>th<\/sup>.<\/p>\n<p>Rachel Reeves said that the government would prioritize economic stability, workers&#8217; rights, and business interests. Reeves, a former Bank of England economist, pledged not to hold a fiscal event without an analysis by the Office of Budget Responsibility and also appeared to rule out any new tax rises beyond those already announced by Labour, which would include VAT on private school fees and extending the windfall tax on energy firms.<\/p>\n<p>The euro is pushing higher after German wholesale prices fell less than expected in April. The wholesale price index fell 1.8% year on year, down from a 2.6% decline in March. On a monthly basis, the wholesale price index rose 0.4% after rising 0.2% in March.<\/p>\n<p>The data comes as inflation remains in focus this week. German and eurozone inflation data are due later in the week.<\/p>\n<p>Meanwhile, the ECB also released its inflation expectations, which were lowered to 2.9% from 3%, supporting the view that the central bank will cut interest rates in the June meeting. What is less clear is what happens after that, with some ECB policymakers supporting back-to-back rate cuts while others favour a pause to assess the impact of the rate cut on the economy.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is falling after yesterday\u2019s gains Shop inflation eased to back to normal Euro (EUR) rises after German wholesale inflation ECB still on track to cut rates The Pound Euro (GBP\/EUR) exchange rate is falling after gains yesterday. The pair rose +0.18% in the previous session, settling on Monday at \u20ac1.1758 and trading in [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-117805","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","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: Pound falls as shop inflation cools to a 2-year low - 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\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\/\" \/>\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\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls as shop inflation cools to a 2-year low\",\"datePublished\":\"2024-05-28T17:20:43+00:00\",\"dateModified\":\"2024-05-30T14:39:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/\"},\"wordCount\":362,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100811-gbp-usd-uk-brexit-vote.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109097-gbp-eur-pound-falls-as-shop-inflation-cools-to-a-2-year-low\\\/\",\"name\":\"GBP\\\/EUR: Pound falls as shop inflation cools to a 2-year low - 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