{"id":118057,"date":"2024-07-16T17:47:06","date_gmt":"2024-07-16T16:47:06","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118057"},"modified":"2024-07-17T22:44:30","modified_gmt":"2024-07-17T21:44:30","slug":"109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\/","title":{"rendered":"GBP\/EUR: Pound falls as UK grocery inflation eases"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is falling for a second day<\/strong><\/li>\n<li><strong>UK grocery inflation eased to 1.6% &amp; shop footfall rose<\/strong><\/li>\n<li><strong>Euro (EUR) rises, but gains are limited by weak German data<\/strong><\/li>\n<li><strong>ECB rate decision on Thursday<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising for a second day. The pair fell 0.09% in the previous session, settling on Monday at \u20ac1.1902 and trading in a range between \u20ac1.1887 and \u20ac1.1917. At 10:00 UTC, GBP\/EUR trades -0.1% at \u20ac1.1890.<\/p>\n<p>The pound is edging lower for a second straight day after data showed that the grocery inflation in the UK has fallen to a three-year low.<\/p>\n<p>According to Kantar, UK grocery inflation has dropped to 1.6%, a level last seen in September 2021. The fall in inflation coincided with the quickest increase in monthly footfall seen this year. UK shoppers made 2% more trips to supermarkets compared to the same period last year, thanks in part to the Euro 2024 football tournament.<\/p>\n<p>The data comes ahead of UK consumer price index inflation, which is due to be released tomorrow.<\/p>\n<p>Expectations are for headline inflation to remain at 2%; however, Bank of England policymakers have expressed concern over the sticky level of service sector inflation as they weigh up when to start cutting rates.<\/p>\n<p>The UK economic calendar is quiet today. Attention will be on tomorrow&#8217;s inflation figures and Thursday&#8217;s unemployment jobs data.<\/p>\n<p>Meanwhile, the euro is under pressure after weaker-than-expected Germany ZEW economic sentiment data. Economic morale in the eurozone&#8217;s largest economy fell by more than expected, raising concerns of an economic slowdown. German ZEW economic sentiment declined to 41.8 in July, down from 47.5 in June and below expectations of 42.5.<\/p>\n<p>The data comes after yesterday&#8217;s weak industrial production data, which fell 2.9% in May after falling 3.2% in April. German output was also at its weakest in almost a year.<\/p>\n<p>There is no further eurozone economic data today. Attention is turning to the ECB&#8217;s interest rate decision on Thursday. The central bank is expected to leave rates on hold. However, policymakers could prepare the market for a September rate cut.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is falling for a second day UK grocery inflation eased to 1.6% &amp; shop footfall rose Euro (EUR) rises, but gains are limited by weak German data ECB rate decision on Thursday The Pound Euro (GBP\/EUR) exchange rate is rising for a second day. The pair fell 0.09% in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5236,"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-118057","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 UK grocery inflation eases - 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\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\/\" \/>\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\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls as UK grocery inflation eases\",\"datePublished\":\"2024-07-16T16:47:06+00:00\",\"dateModified\":\"2024-07-17T21:44:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/\"},\"wordCount\":345,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100834-gbp-eur-eurozone-gdp-data.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\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109166-gbp-eur-pound-falls-as-uk-grocery-inflation-eases\\\/\",\"name\":\"GBP\\\/EUR: Pound falls as UK grocery inflation eases - 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