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UK inflation jumps unexpectedly in July

Christian Fernsby |
British inflation jumped unexpectedly last month to its highest rate since March, official data showed.

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Topics: INFLATION    UK   

Consumer price inflation rose to 1.0% in July from 0.6% in June, the Office for National Statistics said. That was above all forecasts in a Reuters poll of economists that had pointed to an unchanged rate of 0.6%.

Core inflation which excludes typically volatile energy, food, alcohol and tobacco prices also rose to 1.8% from June's 1.4%. Economists had expected the rate to fall slightly to 1.3%.

The Bank of England said earlier this month it expected inflation to turn briefly negative in the near term, falling to -0.3% in August.

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