Inflation comes in under expectations at 7.9%

UK inflation remains 'outlier' compared to developed economies

James Baxter-Derrington
clock • 3 min read
'We would not push back against market pricing of a 6% terminal Bank Rate and think rate cuts are unlikely until late 2024.'
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'We would not push back against market pricing of a 6% terminal Bank Rate and think rate cuts are unlikely until late 2024.'

UK Consumer Price Index (CPI) has fallen further than expected in June, with the Office for National Statistics registering a reading of 7.9% compared to economist predictions of 8.2%, but the UK remains at odds with other developed nations.

Core inflation also came in below expectations, with a reading of 6.9% compared with predictions of 7.1%. While both measures have offered a positive surprise, investors, economists and the chan...

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