United Kingdom: Inflation eases in July
August 19, 2014
In July, consumer prices fell 0.3% over the previous month, which contrasted the 0.2% rise recorded in June and came in below market expectations of a 0.2% drop. July’s decrease was mainly driven by falls in clothing prices as well as by lower prices for alcohol, financial services and food and non-alcoholic beverages.
Annual inflation eased from 1.9% in June to 1.6% in July. Annual average inflation inched down from June’s 2.1% to 2.0% in July, which is the lowest level since September 2005.