The U.K.'s output price inflation eased to 1.7 percent in July from a revised 2 percent in June, the latest figures from the Office for National Statistics showed Friday.
The last time the annual rate was lower was in October 2009, when the index rose 1.5 percent, according to the statistical office. Economists had forecast the rate of inflation to ease to 2 percent from June's originally estimated 2.3 percent.
On a monthly basis, the output price index remained flat in line with expectations.
Annually, input prices fell 2.4 percent compared to expectations for a 1.5 percent fall. Month-on-month, the index rose 1.3 percent as expected.
by RTT Staff Writer
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