India, May 21 -- The pound was higher against its major counterparts in the New York session on Wednesday, after data showing an acceleration in consumer price inflation in the month of April.
Data from the Office for National Statistics showed that UK's consumer price index rose 3.5% year-on-year in April, faster than the 2.6% increase in March. Inflation was expected to rise to 3.3%.
On a monthly basis, the CPI advanced at a faster pace of 1.2% after rising 0.3% in March. This was also faster than the forecast of 1.1%.
Core inflation that excludes prices of energy, food, alcohol and tobacco, rose to 3.8% from 3.4% in March.
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Prices of goods grew 1.7% ...