Summary
UK inflation, which measures how much prices increase over time, rose by 3.6% in the year up to June. This is the largest increase since January 2024 and impacts how much people have to pay for goods and services. This change may influence the Bank of England's decisions on interest rates.
Key Facts
- UK inflation rose by 3.6% in the year to June.
- This is the highest inflation rate since January 2024.
- In May, the inflation rate was 3.4%.
- Rising inflation means people need more money to buy the same items.
- The increase in inflation was mainly due to smaller reductions in motor fuel prices.
- Food prices have also increased for three months in a row, reaching their highest rate since February last year.
- The Office for National Statistics (ONS) provided these figures.
- The Bank of England may adjust interest rates in response to changes in inflation.
