UK inflation unexpectedly rises to 3.6% in June

Up from 3.4% in May

UK inflation rose to 3.6% in June, according to data from the Office for National Statistics, up from 3.4% in May.

This figure came in above expectations from economists polled by Reuters, who had forecast the UK Consumer Prices Index (CPI) would remain unchanged from last the previous month.  Month-on-month, alcohol and tobacco saw a significant uptick in cost, rising from 5.4% to 6.4% in the 12 months to June.  OBR: Spiralling debt just one concern for the UK's fiscal future Richard Heys, acting chief economist at the ONS, said that the hotter inflation was "driven mainly by motor fuel prices which fell only slightly, compared with a much larger decrease at this time last year".  Food pric...