Progress in bringing down the rate of inflation has halted, at least for now. But even with June’s boost in price growth, economists expect the full effects of higher tariffs to push inflation even higher in the coming months.

Britain's annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, official figures showed on Wednesday, potentially making it a tougher call for the Bank of England to cut interest rates next month.