UK June CPI +9.4% vs +9.3% y/y expected

• Prior +9.1%
• Core CPI +5.8%vs +5.8% y/y expected
• Prior +5.9%

UK consumer inflation rises further in June and this just reaffirms that the reading is on its way towards double-digits, as per the trajectory that the BOE had anticipated. On the month itself, inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rose by 0.8% with the details revealing that housing and household services contributed the most to the increase in prices.

Producer prices also moved higher with input prices rising by 1.8% on the month and output prices rising by 0.8% on the month. This will do little to dissuade the BOE from hiking by 50 bps in August.