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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by Renju Jaya
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