UK consumer price inflation slowed more than expected to a 15-month low in June, strengthening the case for a quarter point rate hike from the Bank of England rather than an aggressive half a percentage point increase at the August meeting.
The consumer price index, or CPI, posted an annual increase of 7.9 percent in June, which was slower than the 8.7 percent rise in May, the Office for National Statistics reported Wednesday. This was the weakest rate since March 2022 and also below economists' forecast of 8.2 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.