Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK consumer price inflation soared to an annual pace of 2.5% in June, the highest rate since August 2018, far outpacing the 2.2% expected by analysts, and come after a 2.1% gain in May, the Office for National Statistics said Wednesday. Prices rose across the board, with the biggest upward contribution coming from transport, which accounted for 0.11 percentage points of the change in CPI.
As has been the case in the U.S., surging prices for second-hand cars (+4.4% m/m, +5.6% y/y) provided a lift to inflation, as commuters looked for alternatives to public transport, according to a national statistician. Food prices prices added another 0.07 percentage points, matching the contribution of restaurants and hotels, while clothing and footwear added 0.06pp. Excluding food and energy, core CPI stretched to 2.3% from 2.0% in May, the fastest pace since March of 2018.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.