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MNI BRIEF: UK Headline Inflation Inches Higher, Core Down

Headline inflation up at slower pace than expected, but core and services both slow.

MNI (LONDON) - UK headline inflation edged higher in July, but at a slower pace than expected by both financial markets and the Bank of England.

Prices rose 2.2% y/y, up from 2.0% in June but below an expected 2.3%. Core inflation fell to 3.3%, the lowest since September 2021, while services inflation, closely watched by the Bank, fell to 5.2% -- a two year low.

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MNI (LONDON) - UK headline inflation edged higher in July, but at a slower pace than expected by both financial markets and the Bank of England.

Prices rose 2.2% y/y, up from 2.0% in June but below an expected 2.3%. Core inflation fell to 3.3%, the lowest since September 2021, while services inflation, closely watched by the Bank, fell to 5.2% -- a two year low.

Keep reading...Show less