The pound was still at strong levels against the dollar and euro yesterday, helped by a weaker dollar and inflation rate figures that came out in the morning. It is slightly weaker today, however. UK annual consumer price inflation picked up to 1% in July from 0.6% in June, as businesses have opened following closures over the lockdown period.
Later today, results of the CBI’s trend index will be released, which will show how manufacturers are coping as businesses reopen.
The retail price index was also released yesterday, which rose 1.6% in June. Almost half of rail fares are priced to this, which means that commuters will see a 1.6% rise in fares from January. The government say that fare increases will be the lowest in four years.
