The CPI, which measures inflation in the United Kingdom, rose to 9.4% on an annual basis in June, compared to 9.1% in the May reading, less than expectations, which indicated a rise to 9.3, marking the highest reading in the series that started from national statistics in January 1997.

On a monthly basis, the consumer price index rose by 0.8% in June, compared to an increase of about 0.5% in May 2021.

The main index, excluding food and energy prices, rose to 5.8% in June from 5.9%, to come in line with analysts’ expectations.

In the details of the index, the largest contribution to inflation in April came from the transportation sector, resulting from the rise in car fuel prices by 42.3%, while the prices of food and non-alcoholic purchases increased by 9.8% on an annual basis, at a pace since March 2009.

The British pound is trading down at 1.2007 levels, affected by the rise in the US dollar this morning