The UK's inflation rate rose to 3.6% in June, beating economists' expectations, and sterling appreciated slightly.

UK annual inflation reached 3.6% in June, beating forecasts of 3.4%. Core inflation rose to 3.7%, with fuel prices weighing on the increase. The Chancellor of the Exchequer highlighted cost of living difficulties and the Bank of England may cut its benchmark interest rate amid a stagnating economy. Employment data will influence the central bank's future decisions.