Weak Inflation Causes Pound To Slip – 18 September, 2019

Weaker than expected inflation caused sterling to fall, with August price growth at its slowest since 2016. The pound fell to as low as $1.2439 and was last down 0.2% to $1.2477. A poll showed economist expected the annual rate of goods and services to rise by 1.9% in August, but the rate only rose by 1.7%, having hit a growth rate of 2.1% in July. The pound had rallied to a six week high of $1.2528 earlier in the week, but continuous worries over a Brexit deal added weight to the currency.