UK Inflation Rose Further in June

Inflation in the United Kingdom rose again in June. Last month, life there became 9.4 percent more expensive annually, compared to 9.1 percent in May.

 

The prices of energy and fuels rose; for example, petrol became 42 percent more expensive. Food also rose sharply in price, for which the British had to pay a tenth more.

Core inflation is also quite high but slightly lower. That measure, which does not include the volatile energy and food prices, was 5.8 percent in June. In May, that was still 5.9 percent.

Experts think that inflation in the United Kingdom is not yet at its peak. However, in October, the maximum prices for electricity and gas will rise again, which could push the depreciation of money to new heights.

Producer prices, the price manufacturers charge for their products, were also 16.5 percent higher last month than a year earlier. These price increases are usually partly absorbed by intermediaries and retailers but partly also end up with consumers. As a result, factories lost 24 percent more in materials and energy.

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