<h2>Key Points:</h2> ·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In June 2023, the Consumer Prices Index including owner occupiers' housing costs (CPIH) recorded a 7.3% increase over the previous 12 months, a slight decrease from May's 7.9%.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On a monthly basis, CPIH saw a 0.2% rise in June 2023, compared to a 0.7% increase in June 2022.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Consumer Prices Index (CPI) experienced a 7.9% increase over the 12 months leading up to June 2023, down from May's 8.7%.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monthly, CPI rose by 0.1% in June 2023, as opposed to a 0.8% rise in June 2022.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The decline in motor fuel prices had the greatest impact on the decrease in both CPIH and CPI annual rates, while food prices rose in June 2023, albeit at a slower pace than in June 2022, contributing to a reduction in the inflation rates.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no significant factors counteracting the overall rate change.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core CPIH, which excludes energy, food, alcohol, and tobacco, increased by 6.4% over the 12 months leading up to June 2023, slightly down from May's 6.5%. May's rate was the highest in over three decades. The annual rate of CPIH goods slowed from 9.7% to 8.5%, while the CPIH services annual rate remained unchanged at 6.3% from May.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core CPI, excluding energy, food, alcohol, and tobacco, increased by 6.9% over the 12 months leading up to June 2023, a decrease from May's 7.1%, which was the highest rate since March 1992. The CPI goods annual rate slowed from 9.7% to 8.5%, while the CPI services annual rate eased from 7.4% to 7.2%. <h2>Annual CPIH and CPI inflation rates eased between May and June 2023</h2><h2>CPIH, OOH component and CPI annual inflation rates for the last 10 years,</h2> <img src="https://cdn.forexoverflow.io/images/1689788941987-m68y8wyo7e6jj6z-figure-1-annual-cpih-and-cpi-inflation-rates-eased-between-may-and-june-2023-1.png"> Source: Consumer price inflation from the Office for National Statistics<h2> </h2><h2>Consumer price inflation rates</h2> In the 12 months leading up to June 2023, the Consumer Prices Index including owner occupiers' housing costs (CPIH) witnessed a 7.3% increase, showing a slight decline from the previous month's 7.9% and a decrease from the peak of 9.6% reached in October 2022. Based on our indicative modelled consumer price inflation estimates, the October 2022 rate was the highest in over four decades, with the CPIH National Statistic series commencing in January 2006. The rate observed in June 2023 was the lowest since March 2022. The decrease in the annual rate between May and June 2023 can be attributed to a 0.2% monthly price increase, compared to a 0.7% rise during the same period the previous year. Similarly, the Consumer Prices Index (CPI) experienced a 7.9% increase over the 12 months leading up to June 2023, down from May's 8.7%, and a decrease from the peak of 11.1% in October 2022. Our indicative modelled consumer price inflation estimates suggest that the October 2022 peak represented the highest annual inflation rate since 1981, with the CPI National Statistic series beginning in January 1997. The rate observed in June 2023 was the lowest since March 2022. The easing in the CPI annual rate between May and June 2023 was the result of a 0.1% monthly price increase, compared to a 0.8% rise during the same period the previous year. The primary factors influencing the annual inflation rates for both CPIH and CPI align where applicable. However, the owner occupiers' housing costs (OOH) component, which accounts for 16.0% of the CPIH, primarily drives the differences observed between CPIH and CPI inflation rates.

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Uncover the unparalleled decline in UK consumer price inflation as June 2023 sets a new record low since March 2022.

Unprecedented Drop: June 2023 Sees UK's Lowest Inflation Rate Since March 2022"

UK Consumer Price Inflation Hits Record Low in June 2023

On Monday, the UK's FTSE 100 index experienced a slight decline influenced by the performance of mining and energy stocks. The decrease in metal prices resulted from weak economic data from China, the largest consumer of commodities. Simultaneously, the dip in crude oil prices affected the energy sector. Key Points: ·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weak Chinese economic data affects metal prices·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decline observed in the FTSE 100 and FTSE 250 midcap index·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pressure mounts on Chinese policymakers to stimulate the economy·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Base metal prices decline, impacting industrial metal miners·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy stocks experience a decrease in line with lower oil prices·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focus on UK consumer prices data as inflation eases in the US·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noteworthy US inflation figures and disinflation pattern·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UK inflation at a high of 8.7% YoY in May·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Falling residential home prices in the UK due to rising mortgage costs·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decline observed in housing-related stocks·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FTSE 100 drops over 7% since February's record high·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gresham House sees a significant surge in stock price·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Matthey receives a "buy" rating from Deutsche BankThe UK's FTSE 100 index experienced a minor setback of 0.1%, accompanied by a similar decline of 0.1% in the more domestically-focused FTSE 250 midcap index. The impact of this decline can be attributed to the release of weak economic data from China, which indicates a frail pace of growth in the second quarter. This decline in momentum after the COVID-19 pandemic has led to increasing pressure on Chinese policymakers to implement additional stimulus measures to stabilize economic activity. The prices of most base metals faced downward pressure, resulting in a 1.9% dip for industrial metal miners. Moreover, heavyweight energy stocks also experienced a decline of 0.4% due to lower oil prices. This convergence of factors has created an atmosphere of caution among investors, with a keen eye on short-term inflation in the UK. Alan Kinnaird, the business development manager at Walker Crips Investment Management, believes that the current inflation figures in the United States are particularly intriguing, especially considering the emergence of a disinflation pattern. In May, UK inflation hit an alarming 8.7% year-on-year. Additionally, an industry survey has indicated a fall in asking prices for residential homes in Britain during July. This decline can be attributed to rising mortgage costs and constraints on buyer affordability, which have prompted sellers to temper their price expectations. Consequently, stocks related to housing, such as real estate and homebuilders, witnessed a decline of nearly 0.5% each. The FTSE 100, which focuses significantly on commodities, has experienced losses of more than 7% since hitting record-highs in February. The fluctuation in oil and metal prices has been driven by concerns surrounding demand in China. The uncertainty associated with these commodities has played a significant role in affecting the overall performance of the FTSE 100 Index.Among individual stocks, Gresham House observed a significant surge of 55.5% in its stock price. This surge followed the announcement by U.S.-based investment firm Searchlight Capital Partners that it intends to acquire the alternative asset manager for £469.8 million ($614.9 million). Furthermore, Johnson Matthey experienced a gain of 0.9% after Deutsche Bank upgraded the chemicals maker's rating from "hold" to "buy." In Summary, the UK's FTSE 100 faced a slight decline driven by weak economic data from China. The decrease in metal prices and lower oil prices impacted mining and energy stocks. Attention is now directed towards UK consumer prices data, while also considering the easing inflation in the United States. UK inflation remains high, and the housing market has experienced a fall in prices due to rising mortgage costs. The FTSE 100, heavily dependent on commodities, has suffered significant losses since its record high in February. Individual stocks such as Gresham House and Johnson Matthey have witnessed notable changes in their stock prices following specific events and market upgrades.

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Dive into the impact of weak Chinese data on metal and energy stocks within the UK's FTSE 100.

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2 articles published related to#uk consumer prices data

UK Consumer Price Inflation Hits Record Low in June 2023

UK's FTSE 100 Slips as Weak Chinese Data Impacts Metal and E...

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