Food prices also rose the most among the British
Annual inflation in Great Britain fell much more than expected, below 8 percent last month, primarily due to a significant drop in fuel prices and a slowdown in food price growth.
According to the report of the British Statistics Office (ONS) on Wednesday, consumer prices were on average 7.9 percent higher in June than a year earlier.
British annual inflation was measured at 8.7 percent in April and May. The average of analysts’ forecasts predicted twelve-month inflation of 8.5 percent for June.
The Bank of England’s inflation target is 2 percent, which means that British inflation is still almost four times the central bank’s target level. British inflation, calculated in a twelve-month comparison, exceeded ten percent every month between September and March.
The rate of 11.1 percent measured last October was the highest since the monthly measurement of annual inflation using the current methodology began in January 1997. Based on data calculated even earlier using indicative modeling, the last time British annual inflation was higher than last October was 41 years earlier, in October 1981, at a rate of 11.2 percent.
Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >April inflation was higher than expected
In April, annual inflation was 4.2 percent, and prices rose…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >