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UK annual inflation steady at 2.6% in July

Published 08/15/2017, 04:36 AM
Updated 08/15/2017, 04:36 AM
© Reuters.  UK annual inflation steady at 2.6% in July

© Reuters. UK annual inflation steady at 2.6% in July

Investing.com - British annual inflation rose unexpectedly held steady in July, according to official data released on Tuesday, while retail price inflation rose at a faster rate than expected.

Consumer prices rose 2.6% compared with a year earlier, the Office for National Statistics said, slightly below economists' expectations for a 2.7% annual rise.

Excluding oil prices and other volatile components such as food, core consumer price inflation rose by 2.4% from a year earlier, compared with economists' expectations for 2.5%.

Falling motor fuel prices were offset by higher prices for clothes, utilities and food, the ONS said.

House prices rose 4.9% in June, said the ONS, compared to 5% in May. It was the slowest increase since March.

Retail price inflation rose by an annualized 3.6% in July, up from 3.5% in the previous month. Economists had expected an unchanged reading.

Output prices rose 3.2% in July, while prices paid by factories for materials and energy rose by 6.5%.

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