Inflation in the United Kingdom rose further in June. This was shown on Wednesday by Statistics Bureau. Prices rose by 0.5 percent on a monthly basis, after an increase of 0.6 percent a month earlier.
In the 12 months to June 2021, prices rose by 2.5 percent compared to 2.1 percent in May. Economists expected an increase of 2.2 percent. The Bank of England still wants a 2.0 percent inflation rate.
Producer prices in the United Kingdom rose less sharply in June than in May. On a monthly basis, prices rose by 0.4 percent after a plus of 0.8 percent in May. On an annual basis, producer prices rose by 4.3 percent in June. That was 4.4 percent a month earlier.
Economists ‘ expectations were up 0.7 percent on a monthly basis and 4.9 percent on an annual basis.