# Sterling hit as UK inflation hits new 40-year high

> The pound eased after UK consumer inflation hit a new 40-year high of 9.1% in May, the highest in the G7. The data raised concerns about an economic slowdown just as the Bank of England looked set for further rate hikes.

- Date: 2022-06-22 · published 2022-06-22T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/41195-sterling-hit-as-uk-inflation-hits-new-40-year-high
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Sterling and UK rate expectations have only an indirect effect on feed grain and meal prices, mainly through dollar-denominated trade flows. For feed buyers, the signal is mostly about broader macro risk to demand.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-extends-losses-after-uk-inflation-hits-new-40-year-high-2022-06-22/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.