The UK's annual Consumer Price Index (CPI) rose by 2.0% in June, maintaining the same pace as May and meeting market expectations, according to the Office for National Statistics (ONS). This keeps inflation right at the Bank of England’s (BoE) target.
UK Core CPI inflation, which excludes volatile items like food and energy, also rose by 3.5% year-on-year in June, matching the previous month's increase and market forecasts. Meanwhile, the monthly CPI increased by 0.1%, aligning with predictions but showing a slowdown from May's 0.3% rise.
Market Reaction Following the release, the GBP/USD pair saw a modest rise, trading near 1.2980 as it inches closer to the 1.3000 mark.
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