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.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com