The weaker pound helped drive higher costs for imports like clothing, while analysts at Barclays wrote in a note

The weaker pound helped drive higher costs for imports like clothing, while analysts at Barclays wrote in a note
that they expected the prices of non-energy industrial goods to keep rising, “supported mainly by recent renewed currency weakness.”
Consumer spending also makes up a major part of British economic activity.
With an election last week leaving the Conservative Party short of an overall majority, rising prices could also
intensify the sense of grievance among voters who rebuked Prime Minister Theresa May and her party at the polls.
Movers: The Fed Meets; British Inflation Accelerates -
By THE NEW YORK TIMESJUNE 13, 2017
We’re following major market developments throughout the day.
It was the fastest rate in almost four years, pushing up the cost of living for consumers whose wages have not kept pace.
Central bank officials are expected to raise the benchmark interest rate for the second time this year.