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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.