UK Inflation Rises to Highest Since January 2024, Renewing Focus on BoE Rate Cuts

Britain's annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, official figures showed on Wednesday, slightly dampening expectations for further cuts in Bank of England interest rates.

June's reading from the Office for National Statistics took the annual CPI rate to its highest since January 2024, against expectations from economists in a Reuters poll for it to remain unchanged at May's reading of 3.4%. British inflation has risen steadily since touching...

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