United Kingdom: Inflation rises to a six-month high in June
July 15, 2014
In June, consumer prices rose 0.2% over the previous month, which contrasted both the 0.1% drop recorded in May and market expectations of a 0.1% drop. June’s increase came on the back of higher prices for clothing, food and non-alcoholic drinks as well as for air transport. According to the statistical office, there were no significant downward effects to offset these increases.
Annual inflation rose from 1.5% in May to 1.9% in June, marking the largest increase since December 2013. Annual average inflation was stable at May’s 2.1% in June—the lowest level since December 2005.