United Kingdom Inflation June 2019

United Kingdom

United Kingdom: Inflation stable in June at BoE's target

July 17, 2019

Consumer prices were flat month-on-month in June, down from May’s 0.3% rise, as higher prices for furniture, household equipment and maintenance were offset by lower prices for clothing and footwear, and recreation and culture.

Inflation was unchanged at 2.0% in June, hitting the Bank of England’s (BoE) target. Core inflation—which excludes food and energy costs—rose from 1.7% to 1.8%.

Contained price pressures mean the Central Bank is under no immediate pressure to hike rates, allowing it to maintain an accommodative monetary stance in the face of domestic political uncertainty and slowing global growth.

The Bank of England sees inflation at 1.6% in Q4 2019 and 2.0% in Q4 2020. FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in 2019 and 2.0% in 2020.

Author:, Economist

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United Kingdom Inflation Chart

United Kingdom Inflation June 2019

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

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