U.K.'s Price-Inflation Report Could Boost Hopes on Rate Cuts

U.K.'s Price-Inflation Report Could Boost Hopes on Rate Cuts 1040 GMT - NielsenIQ and the British Retail Consortium's latest report shows that U.K. shop-price inflation slowed to 0.2% in June from 0.

WSJJul 2 08:45 ET

The latest sign of inflation decline: only a 0.2% increase in shop prices in the United Kingdom in June.

Data released on Tuesday showed that the shop inflation rate in the United Kingdom in June fell to near-zero levels for the first time since October 2021, a new sign that household budget pressure is easing. According to data from the British Retail Consortium, shop prices rose only 0.2% in June, lower than 0.6% in May. This is partly due to the substantial discounts on general commodities such as television and the continued decline in food price inflation (from 3.2% in May to 2.5% in June) During the pandemic, it soared to record highs.

環球市場播報Jul 2 03:11 ET

New evidence of cooling inflation in the United Kingdom! Store prices are not rising, did the Bank of England stabilize with its first rate cut in August?

Zhixun Finance and Economics APP has learned that the inflation rate of British shops has dropped to near-zero levels for the first time since October 2021. This is a new sign that household budget pressure is easing. Data from the British Retail Association shows that shop prices only rose by 0.2% in June, lower than the 0.6% in May. This is partly due to significant discounts on commodities such as televisions and a continued slowdown in food price increases. The food price increase rate dropped from 3.2% in May to 2.5% in June. After soaring to record high levels during the pandemic, food price inflation is now at its lowest level since December 2021, thanks to yellow.

Zhitong FinanceJul 2 02:24 ET

U.K. Shop-Price Inflation Continues to Ease as Food Decelerates, Report Says

Annual U.K. shop-price inflation eased further in June for the 14th consecutive month, helped by slowing food inflation as the rate returned to the same levels observed in 2021, according to a report published Tuesday.

WSJJul 2 00:30 ET

U.K. Net Mortgage Approvals Decline in May as Interest Rates Remain Restrictive

1159 GMT - U.K. net mortgage approvals fell in May as high interest rates lowered demand in the housing market, Pantheon Macroeconomics chief U.K. economist Rob Wood says in a note.

WSJJul 1 08:06 ET

GBP: UK Election Seems to Turn Out Uneventful – ING

It is election week in the UK, and the BBC poll tracker puts Labour at 40%, Conservatives at 20%, Reform UK at 16% and Liberal Democrats at 11%, ING analyst Francesco Pesole notes.

FXStreetJul 1 07:57 ET