Good morning: Inflation rose for the fourth consecutive month in June to the highest rate for almost three years — breaching the Bank of England’s inflation target for the second month in a row. Driven by rising prices for food and for second-hand cars, the headline annual CPI rate of inflation rose to 2.5 per cent in June. City economists had forecast a 2 per cent rise. Month-on-month inflation rose 0.5 per cent, down from 0.6 per cent in May but ahead of City forecasts for a 0.2 per cent rise. SponsoredIn a note to clients, Samuel Tombs, chief UK economist at Pantheon, said: “Looking ahead, CPI inflation now looks likely to peak slightly above 3 per cent at the end of this year, though

Source: The Times July 14, 2021 08:02 UTC