Summer sales meant clothes prices dropped sharply in June, and there was also drag from computer games. "The lagged transmission of higher crude oil prices, an uptick in cotton prices and electricity tariffs, the hardening of inflation for manufactured products as well as an unfavourable base effect, led to the sharp pickup in the WPI inflation to a 54 month high in June 2018", said Aditi Nayar, Principal Economist at ICRA, as reported by MoneyControl.
Wage growth for British workers has slowed down to its worst pace in six months despite the record employment, making it more hard for the Central Bank (BoE) to decide whether to raise interest rates for the second time since the start of the global financial crisis.
"Now it looks odds-on that the MPC will hold fire yet again".
Prices usually fall between May and June as summer sales get under way, but the 2.3% drop this year compares with a 1.1% fall a year ago, and is the largest decline during the same period since 2012.
That was largely down to the rising price of fuel, with petrol prices hitting their highest in four years in the month. While the central bank worries that growth is close to the modest pace at which it will start to push up inflation, Wednesday's data brought little sign of this. Month-on-month, output prices gained 0.1 percent from May, when it rose by 0.5 percent.
Mr Tombs was pointing to figures which showed that BRC's non-food shop price index jumped by 0.9 per cent month on month, marking the biggest June increase since the BRC's records began in 2006. That's particularly the case after yesterday's wage growth data emerged weaker than expected.
But economic growth since 2016´s Brexit vote has been weak by historic standards due to high inflation and business uncertainty, and on Monday the International Monetary Fund cut Britain´s growth forecast for 2018 to 1.4 percent.
'August's expected rate hike is, therefore, even less of a dead cert than it was before today's surprise inflation print.
The Retail Prices Index, a separate measure of inflation, was 3.4 per cent last month, up from 3.3 per cent in May.
Headline WPI inflation is expected to ease to 4.1 per cent in March 2019 and average at 4.5 per cent in this fiscal against 2.9 per cent in 2017-18, according to a Kotak Economic Research report.
Separate data from the ONS showed that average house prices in the United Kingdom in May grew at the slowest annual rate since August 2013.
Daniel Sturridge's comments come despite the fact that local media reports linked Sturridge with a move away from Liverpool . Sturridge believes they will prove to be fine acquisitions by Jurgen Klopp ahead of the new season.
His comments appeared to be trying to ease local concerns fueled by Trump's decision to withdraw from the nuclear deal with Iran. The Associated Press was not provided access to the new details of the Mossad operation.
All the above Indian films put together couldn't able to collect what Ant-Man and the Wasp did at the Indian box-office. There are only a few clues to our disposal to figure out what Avengers 4 might be about.
Swisher asked Zuckerberg to discuss Facebook's "fake news" policy, which does not remove falsehoods but demotes them. Zuckerberg said offensive content isn't necessarily banned unless it is to organize harm or attack someone.
President Donald Trump took time out of his schedule Wednesday to honor Secret Service special agent Nole Remagen. Agent Remagen, who Vice President Pence called "a courageous American", leaves behind his wife and two children.
He studied physics at the University of Cambridge, Harvard University and the Massachusetts Institute of Technology (MIT). You may associate the theory of the universe expanding with Edwin Hubble as it is commonly known as Hubble's Law .
Broken shop windows, pillage and other destruction lined a section of the Champs-Elysees, the postgame site for revelers. The first came back in 1998 - Didier Deschamps, who is now the head coach, was a squad player at the time.
The latest attack was an attempt by the Tel Aviv regime to support militants who still remain in southern Syria, it added. Recall, July 8, the Israeli air force attacked the airfield "T-4" is located 70 km from Palmyra in East HOMS province.
The bill has bitterly divided Israeli lawmakers, with some arguing that the law will institutionalise "apartheid" rule in Israel. Even after the changes, critics said the new law would deepen a sense of alienation within the Arab minority.
Reading from a prepared statement , he said he meant to say he didn't see any reason why it wouldn't be Russian Federation . "So this idea that this is some sort of new Trumpian invention is revisionist, you know, fairy tales".
WTO credibility, survival at risk from trade war
The Mexican government said in a statement that it will look at the USA request with the goal of answering it in the next 10 days. China announced it filed a World Trade Organization challenge Monday to U.S.
Shark attacks target children at popular NY beaches
Ian Levine, chief of the Ocean Beach fire department, said only ten cases of shark bites have been reported of New York State. Although his daughter was able to walk after the attack, she was also taken to an area hospital.
'Oddball' among 12 new moons discovered around Jupiter
The lost moons were initially sighted in 2003, but scientists could not define their exact orbits and lost track of them. The small moon rotates at the distance of the retrograde moons, but it's traveling in the other direction.
Facebook's Content Moderation is Under Fire in Undercover Report
A reporter for Channel 4's Dispatches went undercover in Facebook's largest center for United Kingdom moderation, CPL Resources. Creating a safe environment where people from all over the world can share and connect is core to Facebook's long-term success.
Liverpool make €70 million Alisson swoop
Alisson had been linked with Liverpool for some time and was subject of an unsuccessful inquiry back in January. Klopp and his astute transfer team have realised they need to win, and they need to win now.
No guarantees on nerve agent culprits or finding more…
Dawn Sturgess and Charlie Rowley were hospitalized in Amesbury, England, after being exposed to the Russian-made poison Novichok. Police are working around the clock to determine where the Novichok bottle came from and how it ended up in Mr Rowley's home.
Trump has "low expectations" for Putin summit
President Donald Trump and Russia's Vladimir Putin prepare to meet in Helsinki Monday, thousands of Finns took to the streets. His penchant for disruptive diplomacy means he could announce unexpected concessions and startle allies and advisers alike.
New Tease For Glass Trailer Coming This Friday
We knew Glass would be making an appearance at SDCC this week and now we know for sure what day they are releasing the trailer. Where he takes them next remains to be seen, but we'll find out when Glass smashes into cinemas on January 18th, 2019.