UK inflation beats BoE forecasts with 2.5% 12-month uptick

The 12-month inflation rate spells a 40-basis point uptick compared to the 2.1% rise over 12 months to May, while inflation for June alone increased by 0.5%, compared to a 0.1% uptick over the same timeframe last year. The UK CPI including owner occupiers' housing costs (CPIH) rose by 2.4% over the last 12 months to June, surpassing the Bank of England's inflation target for the second consecutive month. Jon Hudson, manager of the Premier Miton UK Growth fund, said part of the rise in UK inflation is due to the "low base effect from last year" while spending was constrained under lock...