UK inflation falls by more than expected to 2.6% in lift for Burnham’s cost of living plans
The reading was below economists’ 2.7% forecast, with lower diesel and petrol prices helping offset higher energy costs, the ONS said.
- Britain's annual rate of consumer price inflation fell to 2.6% in June from 2.8% in May, official figures showed on Wednesday.
- Thomas Pugh, chief economist at RSM, said falling oil prices after the interim ceasefire agreement served as the "main drag on inflation in June."
- Prime Minister Andy Burnham announced on Tuesday that electricity bills will be VAT-free from October 1, saving households about £45 a year.
- Investors expect the Bank of England to keep its benchmark interest rate at 3.75% next week as policymakers assess the impact of the Middle East conflict.
- Tensions in the Middle East have flared again, causing Brent crude oil prices to rise during July, which Raja, chief UK economist for Deutsche Bank, said suggests a "bumpy path" ahead.
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Radio France Internationale
Free Malaysia Today NewsNew UK PM Burnham gets early boost as inflation dips
"The public's priority is reducing cost of living pressures and that's what I'm doing," he told reporters in the southwestern city of Bath. "I'm taking a difficult look at some of the things that the government was committed to ... and reprioritising," Burnham added. The Consumer Prices Index rose by 2.6 percent in the 12 months to June, down from 2.8 percent in May, the Office for National Statistics said in a statement. Analysts' consensus for…
Channels Television
Cooler Inflation Hands New UK PM Burnham An Early Boost
Britain’s annual inflation rate fell more than expected in June, driven by lower fuel prices, official data showed Wednesday, in a boost to new Prime Minister Andy Burnham’s cost-of-living push.The Consumer Prices Index rose by 2.6 percent in the 12 months to June, down from 2.8 percent in May, the Office for National Statistics said in a statement.Analysts’ consensus forecast had been for a slowdown to 2.7 percent last month.Much of the fall wa…
UK inflation cools to 2.6 per cent in June on brief fuel price drop
British inflation cooled by more than expected last month as a brief de-escalation in the Iran war reduced fuel prices, but the slowdown is likely to offer only temporary relief to new Prime Minister Andy Burnham as he seeks to ease living costs. Consumer prices rose by 2.6 per cent in annual terms in June […]
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