British stocks rose in a broad-based rally on Wednesday after domestic inflation eased more than expected, with a weaker pound pushing the exporter-heavy FTSE 100 to a more-than-two-week high.
fell more than expected in June - its slowest in more than a year at 7.9%, compared with expectations of 8.2%.
"Today's fall in inflation is a small step in the right direction for the UK economy," said Jeremy Batstone-Carr, European strategist at Raymond James Investment Services. "But high wage growth and stubborn underlying prices show there is still a long journey ahead to drag inflation back down into more stable territory."
Bets for more interest rate hikes by the Bank of England remained elevated, with traders now leaning towards a 25-basis-point hike in August compared with expectations of a 50-bps hike earlier.
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