UK consumer prices hold at 2% in June

  • by Ahmed Mamdouh
  • July 17, 2019, 12:46 AM
  • 72 Views
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U.K. consumer prices held at 2.0 percent in the year through June, data from the Office for National Statistics showed Wednesday.

The CPI inflation measure recorded 2.0 percent in June, moving in line with forecasts, as the monthly drop in motor fuels, accommodation services and electricity, gas and other fuels was offset by the rise in clothing and food prices.

“The overall rate of inflation remains steady, with no change in pace this month. Petrol and diesel prices fell this year but rose a year ago, while clothes prices dropped by less than this time last year.” the ONS said.

The core CPI reading accelerated to 1.8 percent from a prior of 1.7 percent. That was similar to analysts’ projections.

As of 08:45 GMT, the pound hit a fresh two-month low at $1.2382, the lowest since April 2017, as it remained haunted by Brexit concerns.

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