UK inflation hits 9.4% in June

BRITISH consumer price inflation hit an annual rate of 9.4 per cent in June compared with 9.1 per cent in May, data showed on Wednesday (Jul 20).

A Reuters poll of economists had pointed to a reading of 9.3 per cent.

The Office for National Statistics said core inflation in June stood at 5.8 per cent compared with 5.9 per cent in May.

The Reuters poll had pointed to core inflation of 5.8 per cent in June.

The Bank of England has raised interest rates 5 times since December as it tries to stop the surge in inflation from becoming embedded in Britain’s economy, and it is expected to increase them again at its August monetary policy meeting. REUTERS