So the RPI and CPI figures have been released, and they were much better than expected.
Even though the levels did not drop as much as expected, it did hit zero as I predicted, for the first time in 49 years.
RPI was the one we were keeping an eye on (the one which includes housing costs) - it fell to 0% in February on an annual basis from 0.1% in January. Bad news for the UK as it hasnt been at zero since 1961. However as it was expected to be below zero, the better figures have caused a surge in Sterling exchange rates this morning.
Watch out for GDP figures on Thursday. Today we could be seeing a short term spike for Sterling. For those of you that can act quickly, there are opportunities today to buy at much better levels than of late.
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Labels: Sterling Gains