UK house price inflation slowed more-than-expected in July from a 17-year high as the tapering of stamp duty relief in England took the heat out of the market, data published by the Nationwide Building Society showed on Wednesday.
House prices grew 10.5 percent year-on-year in July, slower than the 13.4 percent increase posted in June. This was also weaker than the economists' forecast of 12.1 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.