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UK inflation hits hotter-than-expected 3.6% in June
The U.K.’s annual inflation rate hit a hotter-than-expected 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated inflation would reach 3.4% in the twelve months to June, after it hit 3.4% in May. June core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by an annual 3.7%, up from 3.5% in the twelve months to May. The British pound rose almost 0.2% against the dollar, to $1.3406, following the data release. “Inflation ticked up in June driven mainly by motor fuel prices which fell only ... (full story)
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