{"id":14043,"date":"2021-07-14T08:11:19","date_gmt":"2021-07-14T08:11:19","guid":{"rendered":"https:\/\/errante.net\/?p=14043"},"modified":"2021-07-14T08:11:19","modified_gmt":"2021-07-14T08:11:19","slug":"uk-inflation-jumps-to-2-5-in-june","status":"publish","type":"post","link":"https:\/\/errante.net\/fa\/uk-inflation-jumps-to-2-5-in-june\/","title":{"rendered":"UK Inflation Jumps to 2.5% in June"},"content":{"rendered":"\n
British inflation jumped further above the Bank of England’s target in June when it hit 2.5%, its highest since August 2018 and up from 2.1% in May<\/a>. <\/p>\n\n\n\n The increase will put the focus of the Bank of England’s plan to keep its huge stimulus programme in place. <\/p>\n\n\n\n Official data showed higher prices for food, fuel, second-hand cars, clothing, and footwear all pushed inflation up last month as the economy bounced back from its lockdown slump, the Office for National Statistics said. <\/p>\n\n\n\n The reading was above all forecasts from economists polled by Reuters who mostly had expected consumer price inflation (CPI) to hit 2.2% in the 12 months to June. <\/p>\n\n\n\n Data published yesterday showed US consumer prices rose by 5.4%<\/a> in the 12 months to June, the biggest increase in 13 years, and the Federal Reserve has said its top officials were poised to act if inflation risks build. <\/p>\n\n\n\n Britain’s inflation broke above the Bank of England’s 2% target for the first time in almost two years in May, but its rise is expected to be much less sharp than in the US. <\/p>\n\n\n\n The Bank of England has said inflation will peak above 3% as Britain before falling back. <\/p>\n\n\n\n But the central bank’s departing chief economist, Andy Haldane, who took part in his last Monetary Policy Committee meeting in June, has warned of inflation of 4%<\/a> and the risk that higher price growth sticks. <\/p>\n\n\n\n In other news, EURUSD has tumbled below 1.18<\/a> after high US inflation figures and a soft bond auction. <\/p>\n\n\n\n Fed Chair Powell’s testimony later today is critical to the next moves. <\/p>\n\n\n\n Keep an eye on the currency crosses for an opportunity to trade. <\/p>\n\n\n\n If you have any questions, please email our Education Centre<\/a>.<\/p>\n\n\n\n If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email support@errante.net<\/a>.<\/p>\n\n\n\n We are Errante. Trading made personal<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" UK Inflation Jumps to 2.5% in June British inflation jumped further above the Bank of England’s target in June when it hit 2.5%, its highest since August 2018 and up from 2.1% in May. The increase will put the focus of the Bank of England’s plan to keep its huge stimulus programme in place. Official data showed higher […]<\/p>\n","protected":false},"author":6,"featured_media":14054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[944,945],"tags":[],"yoast_head":"\n