
UK inflation surges to 16-year high
British headline inflation rose to 3.8% in the year to June, its highest level since 1992.
The measure was up by half a percentage point on the May data and was a fifth above analysts' predictions of 3.6%.
"The figure is even higher than we expected," said Michael Saunders, the head of European economics at Citi, a bank. "CPI food price inflation jumped to a new record high of 10.6% in the year to June from 8.7%, the highest since data began in 1997."
"Optimists will try to draw comfort from t
More on Monetary Policy
Latest issue
Most read
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- ‘Regulatory equivalence’ not enough for post-Brexit UK CCPs – Cœuré
Back to Top