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The Office for National Statistics (ONS) released consumer price inflation today. Consumer price index in the UK decreased 0.3% in July, a 0.2% rise in June.
On a yearly basis, consumer price inflation the UK rose 1.6% in July, missing expectations for a 1.8% gain, after a 1.9% increase in June.
Food prices declined by 0.6% in July, while clothing prices fell 0.2% in July.
CPI, excluding food, energy, alcohol, and tobacco costs, jumped 1.8% in July, missing expectations for a 1.9% rise, after a 2.0% gain in June.
Retail price index increased at an annual rate of 2.5% in July, missing expectations for a 2.6% gain, after a 2.6% rise in June.