- The UK CPI rose 2.5% year-on-year in June compared to the + 2.2% forecast.
- The UK monthly CPI reaches + 0.5% in June compared to the + 0.2% expected.
- GBP / SD rises towards 1.3850 following bullish UK CPI.
The 12-month rate of the consumer price index UK CPI stood at + 2.5% in June, compared to + 2.1% in May, while exceeding expectations of + 2.2%, reported this Wednesday the Office for National Statistics (ONS) of the United Kingdom.
In the meantime, the core inflation indicator (excluding volatile prices for food and energy items) rose sharply by 2.3% year-on-year last month compared to the + 2.0% registered in May, exceeding the forecast of + 2.0%.
Monthly figures showed that UK CPI consumer prices reached + 0.5% in June versus expectations of + 0.2% and + 0.6% previously.
Main points (via ONS):
“The largest upward contribution to the 12-month inflation rate of the IPCH came from transportation (0.80 percentage points).”
“Prices for food, second-hand cars, clothing and footwear, food and fuel consumption for automobiles increased in 2021, but mostly fell in 2020, resulting in the largest upward contributions to the change in the inflation rate of the CPI at 12 months between May and June 2021 “.
“These were partially offset by a large contribution to the decline from games, toys and hobbies, where prices fell this year but rose a year ago.”
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