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fxJul 22, 2026, 2:00 AM

UK CPI Set to Show Receding Inflation in June as GBP/USD Fails at May Highs

The UK Office for National Statistics will release June CPI data on Wednesday. Markets expect inflation to remain above the Bank of England's target but to ease further.

GBPUSD

The UK Office for National Statistics (ONS) is set to release the June Consumer Price Index (CPI) figures on Wednesday at 06:00 GMT. This release is closely watched by currency markets, particularly for GBP/USD.

Consensus forecasts suggest that while inflation pressures are still above the Bank of England’s (BoE) target, they are expected to show a continued decline. The data comes as GBP/USD has struggled to break above May highs, indicating resistance at that level.

The inflation print will be key for the BoE's policy outlook. Any significant deviation from expectations could trigger volatility in sterling pairs, especially against the US dollar.

Source: FXStreet Forex News