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Search resuls for: "Sunak's Conservative Party of"


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Sterling weakened against the U.S. dollar and the euro as the Office for National Statistics said the consumer price inflation growth rate was its lowest since March 2022 but stayed above the pace of price growth in other big, rich economies. The BoE said in May it expected June inflation would fall to 7.9%. Economists polled by Reuters had expected the core measure of price growth to hold at 7.1%. Reuters GraphicsFood price and non-alcoholic drinks price inflation slowed to 17.3% - still a major strain on the finances of many households - from 18.3% in May. Services prices, also monitored closely by the BoE, rose by 7.2% in annual terms, slowing from 7.4% in the 12 months to May.
Persons: Sterling, BoE, Paul Dales, Rishi Sunak, Jeremy Hunt, Hunt, William Schomberg, Andy Bruce, Kate Holton, Catherine Evans Organizations: Reuters, Bank of, Bank of England, U.S ., National Statistics, Capital Economics, Investors, Reuters Graphics, Labour Party, Sunak's Conservative Party of, Manufacturers, Thomson Locations: Bank of England, Britain
The BoE said in May it expected June inflation would fall to 7.9%, moving further away from October's 41-year high of 11.1% but still way above its 2% target. Economists polled by Reuters had expected the core measure of price growth to hold at 7.1%. Despite June's drop, Britain's inflation rate remains the highest among the world's top seven rich economies. In Western Europe, only Iceland had a higher rate of inflation in June. Suren Thiru, Economics Director at ICAEW, an accountancy body, said July's inflation rate was likely to slow to below 7%.
Persons: Sterling, BoE, James Smith ,, BoE Governor Andrew Bailey, Rishi Sunak, Jeremy Hunt, Hunt, William Schomberg, William James, Sarah Young, Catherine Evans Organizations: Reuters, Bank of, Bank of England, U.S ., Reuters Graphics, National Statistics, Labour Party, Sunak's Conservative Party of, Reuters Graphics Reuters, Manufacturers, Thomson Locations: Bank of England, May's, Western Europe, Iceland, Britain
Total: 2