emirates7 - Britain’s annual consumer price inflation unexpectedly climbed to 3.6% in June — its highest level in over a year — according to official data released on Wednesday, potentially complicating the Bank of England’s decision on whether to lower interest rates next month.
The latest figures from the Office for National Statistics (ONS) that June's inflation rate is the highest since January 2024.
Inflation in the UK has been gradually rising after hitting a three-year low of 1.7% last September. In May, the Bank of England projected inflation would peak at 3.7% in September, nearly double its 2% target.
The ONS noted that the biggest factors behind the month-on-month increase were higher prices for motor fuels, airline tickets, and rail travel.
The latest figures from the Office for National Statistics (ONS) that June's inflation rate is the highest since January 2024.
Inflation in the UK has been gradually rising after hitting a three-year low of 1.7% last September. In May, the Bank of England projected inflation would peak at 3.7% in September, nearly double its 2% target.
The ONS noted that the biggest factors behind the month-on-month increase were higher prices for motor fuels, airline tickets, and rail travel.