UK headline inflation rate remains unchanged at 2%
Britain’s annual inflation rate remained unchanged at 2% last month – as the key economic indicator hit the government’s target for a second consecutive month.
The latest figures from the Office for National Statistics (ONS) showed no fresh easing in cost of living pressures.
The consensus in the financial markets had been for a fall to 1.9% last month.
The inflation figures for June will be the last before the Bank of England decides on 1 August whether to cut interest rates – which stand at 5.25% – for the first time in a year.
Threadneedle Street’s rate setters on its nine-strong monetary policy committee expect inflation to rise to 2.5% in the second half of 2024 before falling back below the official 2% target.
More details to follow …
Related
Why investing in women is a vital next step for…
Get Nadine White's Race Report newsletter for a fresh perspective on the week's newsGet our free newsletter from The Independent's Race CorrespondentGet our fre
Business secretary signals major shift on electric car policy to…
In a determined effort to retain Nissan’s manufacturing presence in Britain, Business Secretary Jonathan Reynolds has vowed to implement “substantial c
Joint Statement: Business Secretary and Fujitsu Services Ltd
Business and Trade Secretary Jonathan Reynolds today (Friday 7 March) met chiefs for Fujitsu in Tokyo to begin talks over the cost of redress for victims of th
UK foreign secretary backs multilateral defence funding for Europe
UK foreign secretary David Lammy has said that a new multilateral fund will be needed to secure Europe’s defence as he confirmed that Britain is “open to”
