{"id":118715,"date":"2024-12-18T19:49:31","date_gmt":"2024-12-18T19:49:31","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118715"},"modified":"2024-12-18T19:49:31","modified_gmt":"2024-12-18T19:49:31","slug":"109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\/","title":{"rendered":"GBP\/EUR: Pound rises after hotter-than-expected inflation"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is rising for a third day<\/strong><\/li>\n<li><strong>UK inflation rose 2.6% YoY, up from 2.3% in October<\/strong><\/li>\n<li><strong>Euro (EUR) falls after a downward revision to Eurozone inflation<\/strong><\/li>\n<li><strong>The ECB are likely to keep cutting rates<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising for a third straight day. The pair rose 0.42% in the previous session, settling on Tuesday at \u20ac1.2112. It traded in a range between \u20ac1.2052 and \u20ac1.2124. At 19:00 UTC, GBP\/EUR trades +0.12% at \u20ac1.2131.<\/p>\n<p>The pound is pushing higher after UK data showed that inflation continued to rise in November for a second straight month.<\/p>\n<p>You can flash, and as measured by the consumer price index, it rose 2.6% year over year in November, according to data from the Office of National Statistics. This was in line with economists&#8217; forecasts. However, it was up from 2.3% in October.<\/p>\n<p>Core inflation, which excludes more volatile items such as energy and food, was 3.5%, just below expectations of 3.6% but still up from 3.3% in October.<\/p>\n<p>Headline inflation fell to a 3.5-year low of 1.7% in September but ticked higher over the previous month owing to an increase in the regulator-set energy price cap this winter and a tight domestic labor market.<\/p>\n<p>Persistent inflation in the service sector, the dominant part of the UK economy, has resulted in the market pricing in almost no chance of a rate cut in Thursday&#8217;s final Bank of England rate decision for 2025.<\/p>\n<p>Well, the UK is dealing with sticky inflation. It&#8217;s also experiencing lackluster growth, with the GDP unexpectedly contracting by 0.1% in October, the second straight monthly downturn.<\/p>\n<p>The euro has fallen further after data showed that eurozone annual inflation increased by slightly less than expected in November.<\/p>\n<p>Annual CPI across the eurozone region rose by 2.2% year on year, down from the initial reading of 2.3%. However, this was still up from the 2% recorded in October and 1.7% in September.<\/p>\n<p>When the figures are broken down by country, inflation in Germany remained above average at 2.4%, while inflation in France and Italy was below 2%.<\/p>\n<p>The weaker-than-expected inflation print raised expectations that the European Central Bank will continue cutting interest rates as we approach 2025.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is rising for a third day UK inflation rose 2.6% YoY, up from 2.3% in October Euro (EUR) falls after a downward revision to Eurozone inflation The ECB are likely to keep cutting rates The Pound Euro (GBP\/EUR) exchange rate is rising for a third straight day. The pair rose 0.42% in the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4916,"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-118715","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 rises after hotter-than-expected inflation - 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\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound rises after hotter-than-expected inflation\",\"datePublished\":\"2024-12-18T19:49:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/\"},\"wordCount\":354,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-eur-gross-domestic-product.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\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109387-gbp-eur-pound-rises-after-hotter-than-expected-inflation-2\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after hotter-than-expected inflation - 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