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UK inflation steady at 2.6% in July

Staff Writer |
UK consumer prices rose at a steady pace in July, the Office for National Statistics said.

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Consumer prices climbed 2.6% annually in July, the same rate as seen in June. The annual growth was forecast to rise slightly to 2.7%.

Excluding energy, food, alcoholic beverages and tobacco, core inflation remained at 2.4% in July.

On a monthly basis, consumer prices fell 0.1% in July, while they were expected to remain flat.

The consumer price index including owner occupiers' housing costs 12-month inflation rate was 2.6% in July, the same rate as in June.

Another report from ONS showed that output price inflation slowed slightly to the lowest level seen so far this year.

Output prices grew 3.2% annually, slightly slower than the 3.3% increase in June. Nonetheless, the rate exceeded the expected 3.1%.

On month, output prices gained 0.1% after staying flat in June.

Input price inflation eased more-than-expected to a 1-year low of 6.5% in July from 10% in June. Prices were forecast to climb 6.9%.

Month-on-month, input prices remained flat in July in contrast to a 0.3% fall in June. Economists had forecast a 0.4% rise.

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