18.07.201805:17:00UTC+00UK Inflation Steady For Second Month

UK inflation remained stable for the second straight month in June, the Office for National Statistics reported Wednesday.

Consumer prices climbed 2.4 percent year-over-year in June, the same rate of increase as in the previous two months. Meanwhile, the inflation was expected to accelerate to 2.6 percent.

On a monthly basis, consumer prices remained flat in June versus the expected increase of 0.2 percent.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, eased to 1.9 percent in June from 2.1 percent in May.

Another report from the ONS showed that input price inflation quickened to 10.2 percent in June from 9.6 percent a month ago. Prices were expected to grow by 10.1 percent.

Moreover, this was the highest input price inflation since May 2017, driven by higher crude oil costs, despite falling on the month.

Meanwhile, monthly inflation eased notably to 0.2 percent from 3.3 percent in May. The expected increase was 0.4 percent.

Output price inflation edged up to 3.1 percent in June from 3.0 percent in the prior month. Month-on-month, output prices gained 0.1 percent from May, when it rose by 0.5 percent.