© Reuters. FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, in London, Britain, January 15, 2021. REUTERS/Toby Melville
LONDON (Reuters) – British inflation rose further above the Bank of England’s target in June when it hit 2.5%, up from 2.1% in May, official data showed on Wednesday.
Economists polled by Reuters had expected consumer price inflation (CPI) to hit 2.2% in the 12 months to June. The BoE has said inflation will peak above 3% as Britain bounces back from its coronavirus lockdowns but it also thinks that the rise will be temporary and does not require it to reduce its huge stimulus for Britain’s economy yet.
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