| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | United Kingdom | Producer Price Index - Output (YoY) | March | 11.9% | 8.6% | 8.7% |
| 06:00 | United Kingdom | Producer Price Index - Input (MoM) | March | 0% | -0.3% | 0.2% |
| 06:00 | United Kingdom | Producer Price Index - Input (YoY) | March | 12.8% | 7% | 7.6% |
| 06:00 | United Kingdom | Producer Price Index - Output (MoM) | March | -0.4% | -0.1% | 0.1% |
| 06:00 | United Kingdom | Retail Price Index, m/m | March | 1.2% | 0.6% | 0.7% |
| 06:00 | United Kingdom | HICP ex EFAT, Y/Y | March | 6.2% | | 6.2% |
| 06:00 | United Kingdom | Retail prices, Y/Y | March | 13.8% | 13.3% | 13.5% |
| 06:00 | United Kingdom | HICP, m/m | March | 1.1% | 0.5% | 0.8% |
| 06:00 | United Kingdom | HICP, Y/Y | March | 10.4% | 9.8% | 10.1% |
| 08:00 | Eurozone | Current account, unadjusted, bln | January | 16.77 | | -0.71 |
| 08:00 | Eurozone | Current account, adjusted, bln | February | 18.63 | | 24.32 |
| 09:00 | Eurozone | Construction Output, y/y | February | 0.5% | | 2.3% |
| 09:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | March | 5.6% | 5.7% | 5.7% |
| 09:00 | Eurozone | Harmonized CPI | March | 0.8% | 0.9% | 0.9% |
| 09:00 | Eurozone | Harmonized CPI, Y/Y | March | 8.5% | 6.9% | 6.9% |
GBP appreciated against most other major currencies in the European session on Wednesday as the UK's March inflation report, showing consumer price pressures eased less than expected last month, strengthened the case for another interest rate increase by the Bank of England next month.
The Office for National Statistics (ONS) reported that British annual inflation cooled to 10.1% in March from 10.4% in February. The reading was above economists’ forecast of 9.8%. Meanwhile, the annual core inflation rate, which excludes energy and food, held steady at 6.2% in March, pointing to sticky underlying price pressures. Economists had predicted the core inflation to ease to 6.0%.
The latest inflation data, coupled with yesterday's upbeat wage growth reading for February, support the case for the BoE to raise its interest rates by 25 basis points at its next meeting on May 11.