Following the release of today’s UK inflation figures from the Office for National Statistics, Joel Dungate, Investment Analyst at investment management and stockbroking firm Redmayne Bentley, said:
“Most economists had expected a rise in inflation, so it came as a bit of a surprise to learn that consumer prices held steady at 2.4% in June. This was a welcome development, particularly since figures released yesterday had shown a small fall in wage growth in the three months to May.
“Consequently, the figure doesn’t change that much. Three members of the monetary policy committee voted for a rate rise in June, so it will be interesting to see if the other policymakers follow them when they meet again next month. A rise in inflation would have increased this likelihood, but the steady figure along with slowing wage growth means that we could once again see rates left unchanged.”
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