UK inflation falls to 2.6% in June (year-on-year) down from 2.9% in May

UK inflation falls to 2.6% in June (year-on-year) down from 2.9% in May.

U.K. inflation unexpectedly slowed in June, giving respite to Bank of England policy makers concerned that price growth was getting out of hand.
The inflation rate slipped to 2.6 percent, the Office for National Statistics said on Tuesday. It’s the first drop in the annual rate since October, and economists had forecast that it would hold at the four-year high of 2.9 percent reached in May.
The data weakens arguments for an immediate interest-rate hike that a minority of policy makers supported at the last BOE decision as inflation looked set veer further above the 2 percent target. There are also signs economic growth is cooling as consumers, the engine of growth for the past year, start to rein in spending.
UK inflation falls to 2.6% in June (year-on-year) down from 2.9% in May UK inflation falls to 2.6% in June (year-on-year) down from 2.9% in May Reviewed by Alexander Von Stern on 01:43:00 Rating: 5