UK consumer price inflation rose less than expected in July as services price growth slowed to its lowest in over two years, strengthening the call for more interest rate cuts from the Bank of England.
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 Wednesday. Although inflation accelerated for the first time since last December, this was slightly slower than economists' forecast of 2.3 percent and BoE's projection of 2.4 percent.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.