UK 12-Month Inflation Slows Down in July

fuel nozzle with pound banknotes 3d illustration

The UK’s 12-month inflation rate saw growth slow in July, largely because of technical base effects linked to the first easing of lockdown conditions last year.

Source: Office for National Statistics


FTSE 250 Index up +0.27%, EUR USD up +0.06%

The Consumer Prices Index, including owner occupiers’ housing costs(CPIH), jumped by 2.1% in the 12 months ending July, down from 2.4% in the previous month.

Meanwhile, the consumer price index increased by 2% in the 12 months to July 2021, down from 2.5% in June.

The transport costs contributed to the largest upward contribution to the CPIH 12-month rate at 0.85%, while clothing and footwear and recreational goods and services applied the largest downward force.

On a monthly basis, both the UK CPIH and CPI remained the same in July 2021, compared with the increases of 0.4% in July 2020.

The easing of inflation growth comes after recent BoE forecasts that the rate will increase to 4% by the end of 2021. The Bank of England is looking to scale back on its pandemic stimulus program in the coming months.



MT5 Trading Platform: Features Every Trader Should Know

Previous article

Eurozone Inflation Continues Rising as it Surpasses ECB’s 2% Target Rate

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News