United Kingdom: Consumer prices post slight annual increase in July
August 18, 2015
In July, consumer prices dropped 0.2% over the previous month, which came in below the flat reading observed in June. The figure marked the first monthly drop in six months and reflected lower prices for food and non-alcoholic beverages as well as for transport.
Inflation inched up from a flat figure in June to 0.1% in July, thus reaching the highest level in six months. July’s reading overshot market expectations, which had inflation remaining stable at the previous month’s reading. Annual average inflation inched down from 0.6% in June to 0.5% in July, the lowest level on record.
Author: Dirina Mançellari, Senior Economist