UK CPI steadies at 0.2% m/m in June, core CPI ticks higher

Dhwani Mehta FXStreet

The UK consumer prices remained stagnant at 0.2% m/m in June from a month before, matching market forecasts of 0.2%, the Office for National Statistics (ONS) revealed on Tuesday.

On annualised basis, the UK inflation figures rose 0.5% in June, against 0.4% expectations and 0.3% previous. While the core inflation gauge also ticked higher to 1.4%, vs +1.3% expectations and +1.2% last.

The UK inflation report released today shows that the Brexit shock has been ignored by markets, easing pressure on the BOE to act sooner i.e. as early as August.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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