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

2017-06-14 0 Dailymotion

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

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