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UK headline CPI fell to 2.8% in April from 3.3% in March, well below the 3.0% consensus, with core inflation dropping to 2.5%. The decline was driven mainly by a cut in the household energy price cap and lower airfares.
Sterling was little changed as markets judged that a Bank of England hike had become less likely.
Softer UK inflation reduces the chance of BoE tightening, which weighs on sterling and UK rate expectations. It has no direct effect on feed commodity supply or prices.
exchangerates.org.ukJames ElliotMay 21, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
