Pound to euro exchange rate: Sterling drops as UK inflation rates increase.
While Brexit concerns mount on Britons regarding the threat of a no-deal, UK wage growth has also struggled to pick up while UK inflation increased for the first time since November.
New data from the Office for National Statistics has shown that growth is lagging behind inflation, meaning families are feeling the pinch.
The pound really is struggling to find much cause for cheer at the moment and the British currency came under renewed pressure on Wednesday on fresh Brexit worries and concerns that UK wage growth is lagging behind inflation.”
UK inflation has risen for the first time since November to 2.5 per cent from 2.4 per cent.
Transport and computer games costs went up, which supported the increase.
Increasing fuel prices also affected the inflation rate rise, which will put a squeeze on UK households.
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