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U.K. July inflation slows to 1.6%, core CPI falls to 1.8%

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Investing.com -

Investing.com - Consumer price inflation in the U.K. accelerated less than expected in July, falling to a two-month low, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said the rate of consumer price inflation slowed to a seasonally adjusted 1.6% last month from 1.9% in June and compared to expectations for a reading of 1.8%.

Month-over-month, consumer price inflation declined 0.3% in July, compared to estimates for a 0.2% decline.

Core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a seasonally adjusted rate of 1.8% last month, down from 2% in June. Analysts had expected core prices to rise 1.9% in July.

The retail price index increased 2.5% in July, below expectations for a 2.6% gain and down from 2.6% in June.

The data also showed that the house prices index climbed 10.2% in June, compared to forecasts for a reading of 11.5% and following a 10.5% increase in May.

Following the release of that data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.51% to trade at 1.6644, compared to 1.6692 ahead of the data.

Meanwhile, European stock markets remained higher. London's FTSE 100 inched up 0.45%, the DJ Euro Stoxx 50 tacked on 0.35%, France's CAC 40 rose 0.35%, while Germany's DAX advanced 0.9%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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