There has been no change to the rate of inflation which remained at 2%, the target rate for the Bank of England, according to official figures.

It means prices in June rose at the same rate as in May, data from the Office for National Statistics showed.

The figure is higher than expected, economists had forecast a slight fall to 1.9%.

It’s likely to be unwelcome news to the interest-rate setters at the Bank of England who have kept borrowing high to bring inflation down to 2%.

An interest rate cut would be good news for mortgage holders and people paying back other forms of debt like loans or credit card bills.

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