Financial News: UK Inflation Rises In July

UK Inflation Rises In July

08/14/2024 - 02:43:00 (RTTNews)

(RTTNews) - UK consumer price inflation increased for the first time in seven months in July, official data revealed Wednesday.

The consumer price index moved up 2.2 percent in July from a year ago, following June's 2.0 percent increase, the Office for National Statistics reported.

Inflation accelerated for the first time since last December. However, inflation was slightly slower than the expected 2.3 percent.

Month-on-month, consumer prices fell 0.2 percent, in contrast to the 0.1 percent rise in June.

Excluding energy, food, alcohol and tobacco, core inflation weakened more-than-expected to 3.3 percent from 3.5 percent in June. The rate was seen at 3.4 percent. Services inflation slowed to 5.2 percent in July from 5.7 percent. Meanwhile, prices of goods dropped 0.6 percent.

Another report from the ONS showed that factory gate inflation softened unexpectedly to 0.8 percent in July from 1.0 percent in June. Prices were forecast to climb 1.2 percent.

Month-on-month, output prices remained flat compared to June's 0.7 percent decrease. At the same time, input prices posted an annual growth of 0.4 percent after staying flat in June. On month, input prices slid 0.1 percent but slower than the 0.4 percent fall in June.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (19 min(s), 04 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (46 min(s), 04 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (09 min(s), 04 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (02 min(s), 04 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (23 min(s), 56 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (50 min(s), 56 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (01 hr(s), 37 min(s), 56 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (02 hr(s), 08 min(s), 56 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»