Weekly Economic and Construction Update – 23 June 2023

Weekly Economic and Construction Update – 23 June 2023

Date Published

23 June 2023

Document Type

Category

Author

TDUK

Member-Only Resource
Access is restricted to members (log-in here). Learn about joining or contact us for more info.

Summary

According to the ONS, CPI inflation in the UK economy in the year to May 2023 remained at 8.7%, the same as in April and lower than the 10.1% in March. Financial markets had expected it to slow to 8.4%. Core CPI (excluding energy, food, alcohol and tobacco) rose by 7.1% in the year to May, which is higher than the 6.8% core inflation in the year to April 2023 (which was already its highest rate since 1992) and higher than the 6.2% core inflation in March.