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July inflation steady at 2.6 per cent

15 August 2017

The UK consumer price index (CPI) remained steady in July at 2.6 per cent, compared to forecasts of 2.7 per cent.

Price increases were greater for housing and utilities, food and non-alcoholic beverages, clothing and household goods.

Emmanuel Afoakwah, investment analyst at Redmayne-Bentley, said: “Despite policymakers at the Bank of England highlighting concerns over inflation, these figures are unlikely to prompt a significant change in policy direction, particularly in the face of sluggish wage growth. In light of this, British consumers are likely to continue feeling the squeeze, placing a downward pressure on consumer spending in the coming months.  

“The fact that the CPI figure for July has stayed flat suggests that inflation may have peaked. This would be positive news for British workers and the UK’s consumer-driven economy. However, with inflation as measured by the retail price index (RPI) rising, long-suffering commuters may become further disgruntled by further train fare hikes.”

 

Contact:
Ruth Peterson
PR Executive
Email: ruth.peterson@redmayne.co.uk
Tel: 0113 200 6476

Branch: Leeds (Head Office)

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