Guess what?
On Wednesday, we're going to get the scoop on how much prices have been climbing up in the UK.
This is pretty big news because it directly affects our wallets, you know, like how much we shell out for groceries and clothes.
Here's the lowdown:
Experts are saying that compared to last year, prices might have nudged up by roughly 3.5% in February.
But get this – they've got this special trick where they look at prices without including stuff that tends to bounce around a lot, like food and energy.
This core figure is expected to show a bump of about 4.6%, which is a smidge less than what we've seen before.
Now, here's where it gets interesting.
If prices don't climb as much as everyone's expecting, it might spell trouble for the British pound against the US dollar.
This could pile on the pressure for the pound later on Wednesday when the US Federal Reserve dishes out its verdict on the economy.
But wait, there's more.
The info about UK prices could also sway what the BoE decides to do on Thursday.
If prices aren't shooting up as fast, the bank might ease off on worrying about inflation and focus more on giving the economy a boost.
That's what they call being "dovish."
Exciting stuff, right?
Trade Safe.
Pat Chiko
I come from the future.
5