Tag: unexpectedly
UK inflation unexpectedly jumps to 3.6% to highest rate in year and a half
Prices rose by more than expected in the year to June, pushing inflation to 3.6%, the highest it has been since January 2024. Higher prices for food and clothing, air and rail fares – and a lower drop in fuel prices than this time last year – contributed to higher inflation, official figures show. The…
Reeves says latest GDP figures ‘disappointing’ after economy unexpectedly shrinks for second month
The UK economy shrank unexpectedly in May, contracting for the second month in a row. The economy contracted by 0.1%, the Office for National Statistics (ONS) said, confounding analysts who expected to see slight growth. The government has made boosting economic growth a key priority and Chancellor Rachel Reeves said the latest figure was “disappointing”.…