UK consumer price inflation accelerated unexpectedly in June to the highest since January 2024 largely due to higher transport and food costs but the Bank of England is expected to loosen its policy further, given mounting concerns over economic conditions.
The consumer price index advanced 3.6 percent year-on-year in June, faster than the 3.4 percent rise in May, the Office for National Statistics reported Wednesday. Prices were expected to climb again by 3.4 percent in June.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com