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Consumer price inflation, UK: July 2018
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July 2018, unchanged from June 2018. Rising prices for computer games and transport fares produced the largest upward contributions to change in the 12-month rate between June and July 2018, although computer game prices tend to be highly variable from month to month. The upward effects were offset by falls in prices for clothing and footwear, and the removal of initial charges for investment in some unit trusts. Prices for clothing and footwear fell by 0.4% between July 2017 and July 2018, the first time ... (full story)
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U.K. Inflation Rate Accelerates on Fuel, Transport, Games
U.K. inflation accelerated for the first in eight months in July, boosted by the cost of auto fuel, transport tickets, computer games and food. Annual consumer-price growth quickened to 2.5 percent from 2.4 percent in June, as economists forecast, figures from the Office for National Statistics Wednesday show.The Bank of England had predicted inflation would pickup to 2.6 percent in July before resuming its downward path as the effect of sterling’s post-Brexit referendum decline fades. Officials raised interest rates this month to tame price pressures in the labor market and indicated further hikes will be needed ... (full story)
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