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14 August 2019

Inflation edges higher in July

 

UK Consumer Price Inflation (CPI) increased to 2.1% in July, rising above June’s 2% figure, and surprising economists who were predicting a 0.1% fall.

Saul Fulda, Investment Analyst at investment management and stockbroking firm Redmayne Bentley, said: “The increase was largely driven by growing prices in hotels, computer games, clothing and financial services. The upward trend was offset by decreases in transport and fuel prices. This, together with the continued slowdown in house price growth, where London saw its 16th consecutive month of falling prices, was unable to deter the slight increase in inflationary pressures. It is highly unlikely that the Bank of England will change interest rates despite the triple threat of rising inflation, a weaker Sterling, and a contracting economy.”

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Inflation edges higher in July

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