UK annualized inflation accelerates by 9.4% in June

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday.

Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased to 5.8% YoY last month versus 5.9% booked in May, meeting the market forecast of 5.8%. The monthly figures showed that the UK consumer prices arrived at 0.8% in June vs. 0.7% expectations and 0.7% previous.