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Uk Inflation Shows Surprise Jump in July on Soaring Airfares, Beats Estimates

Aug 14 2012
By
Forexbrokerz.com
  • UK Consumer price inflation inched up to 2.6 pct from 2.4 pct in June, the Office for National Statistics said
  • The ONS said that airfares jumped 21.7 pct m/m ,the largest rise from June to July since 2004.
  • The monthly fall in clothing and footwear prices was the smallest June to July drop since records started in 1996 as retailers had started seasonal discounts
  • Inflation has fallen sharply from the three-year peak of 5.2 pct hit in Sept 2011, and June's fall had been much sharper than expected, driven in part by the early summer sales.
  • Factory gate inflation has slowed the lowest pace in nearly three years in July and business surveys have also shown easing price pressures.
  • Core consumer price inflation rose to 2.3 pct from 2.1 pct, casting further doubt on whether inflation will fall much further.
  • ONS said house prices in Britain rose by 2.3 pct y/y in June, the same as in May, driven by a 6.5 pct y/y house price increase in London.
  • The longer-running RPI measure for inflation also rose unexpectedly to 3.2 pct from 2.8 pct
The material has been provided by Instaforex Company - instaforex.com
TAGS: Uk  Inflation  Shows  Surprise  Jump  in  July  on  Soaring  Airfares    Beats  Estimates 

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