UK annualized CPI beats estimates with 0.6% in June, GBP/USD revisits daily highs

• UK CPI rises 0.6% YoY in June vs. +0.4% expected.
• Monthly UK CPI arrives at +0.1% in June vs. 0% expected.
• GBP/USD heads back towards 1.2588 on the data release.

The UK Consumer Prices Index (CPI) 12-month rate came in at +0.6% in June when compared to +0.5% booked in May while matching expectations of a +0.4% print, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at +1.4% YoY last month versus +1.2% booked in May while beating the consensus forecast of +1.2%.

The monthly figures showed that the UK consumer prices arrived at +0.1% in June vs. 0% expectations and 0% last.

more to come ...