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16.08.2016 08:36

UK’s inflation after Brexit was strong. GBP/USD on the rise

The reporting period for this release covers the calendar month of July 2016, therefore, the data refers to the period after the EU referendum.

The Consumer Prices Index (CPI) rose by 0.6% in the year to July 2016, compared with a 0.5% rise in the year to June.

Although the small increase in the rate between June 2016 and July 2016 takes it to the highest seen since November 2014, it is still relatively low in the historic context.

The main contributors to the increase in the rate were rising prices for motor fuels, alcoholic beverages and accommodation services, and a smaller fall in food prices than a year ago.

These upward pressures were partially offset by falls in social housing rent, and falling prices for certain games and toys.

CPIH (not a National Statistic) rose by 0.9% in the year to July 2016, up from 0.8% in June.

16.08.2016 08:33

Oil is trading lower

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