Print Edition - 2018-07-19  |  Money Digest

UK annual inflation stable at 2.4 percent

LONDON

Jul 19, 2018-

Britain’s annual inflation rate held in June at 2.4 percent, the lowest level in 15 months, official data showed Wednesday, denting prospects of a UK interest rate hike next month. Analysts’ expectations had been for inflation’s Consumer Prices Index 12-month rate to have risen to 2.6 percent last month. But inflation was unchanged from May, as falling prices for clothing helped to offset rising energy costs, the Office for National Statistics said in a statement. Analysts said that the data could lessen the chances of the Bank of England’s Monetary Policy Committee (MPC) increasing borrowing costs at its August meeting by a quarter-point to 0.75 percent, as has been widely expected by markets. (AFP)

Published: 19-07-2018 08:11

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