And data from Britain’s Office for National Statistics showed on Wednesday that annual consumer price inflation in the country slowed at the fastest pace in nearly 30 years, to 8.7% in April from 10, 1% in March, and this is also the first time that inflation has fallen to single digits since last August, but this slowdown was below expectations, which indicated a drop to 8.2%.
But the most worrying figures are the acceleration of core inflation – which excludes volatile food and energy prices – to 6.8%, the highest rate since 1992, and March, it reached 6.2%.
These data gave the impression that inflation in the UK is more difficult to manage easily, which could prompt the Bank of England to raise interest rates again next month.
By contrast, Germany’s business climate index fell in May in May, below expectations, with the IFO Institute’s index falling to 91.7% from 93.4 points in April, and expectations indicated down to 93 points.
Property stocks fell in most parts of Europe and the sector index fell 2.5%, and shares of UK construction companies were among the lowest after inflation data.
Market movements
The Stoxx 600 index of European stocks fell 1.36% at 0840 GMT, returning to its lowest level in around three weeks, with all stock markets in the region falling.
And the index of luxury goods stocks continued to fall 1.7%, to its lowest level in more than six weeks, as there was no sign of the wave of selling that started on Tuesday abating. .
The wealth of the world’s richest person, Bernard Arnault, plummeted by $11.2 billion in a day, after LVMH shares fell 5% in Paris on Tuesday, the biggest drop in more than a year.
The Swedish gaming empress plunged 38.2% to a record low after the company announced that a major strategic partnership would not take place and lowered its full-year guidance ahead of the cuts. taxes and interest.
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