UK April CPI has come in at +0.2% m/m, +2.3% y/y, weaker than median forecasts of +0.4% m/m and +2.4% y/y. It is the lowest y/y rise since January 2008. The office of national statisitics says the biggest downward factors on the y/y rate were energy bills and food prices.
Meanwhile April RPI came in at +0.1% m/m and -1.2% y/y, weaker than median forecasts of +0.2% and -1.1% respectively.
Meanwhile no stopping cable, just posting a new session high 1.5484 at writing. Resistance 1.5500 and then 1.5520. As mentioned earlier cable bulls seem to have 1.5555-85 area as their target.
