UK inflation down to 6.8% in July - Breaking The News

UK inflation down to 6.8% in July

16 August

1 min read

EPA-EFE/TOLGA AKMEN

The Consumer Price Index in the United Kingdom stood at 6.8% on a yearly basis in July, according to a report by the Office for National Statistics on Wednesday. On a monthly basis, the figure decreased by 0.4%.

Meanwhile, the core CPI (excluding energy, food, alcohol, and tobacco) increased by 6.9% in the 12 months to July and 0.3% compared to June. The report especially highlighted the falling gas and electricity prices, providing the most significant downward contributions to the monthly change in CPI annual rate.

In a separate report, the statistics office added that producer input prices decreased by 3.3% in the year to July and by 0.4% compared to June. Meanwhile, producer output prices fell by 0.8% through July and went up by 0.1% on a monthly basis.

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