UK inflation remained little changed in June with higher hotel and restaurant costs underpinning last month’s data.
IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 80.32%, while traders in Wall Street...UK inflation was little moved in June with core y/y unchanged at 3.5%, while headline inflation remained steady at the Bank of England’s 2% target. According to the Office for National Statistics,
‘The largest upward contribution to the monthly change in both CPIH and CPI annual rates came from restaurants and hotels, where prices of hotels rose more than a year ago; the largest downward contribution came from clothing and footwear, with prices of garments falling this year having risen a year ago.’moved higher after the data release and is back above 1.3000 for the first time since July 2023. UK 2-year gilt yields are back above 4% after trading at 3.
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