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UK inflation creeps up less than expected to 2.2% after two months at target
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The largest contribution to the headline inflation figure came from gas and electricity prices, as they fell less than they did a year ago, while the largest contribution came from restaurants and hotels, where prices fell. Economists polled by Reuters had expected a headline inflation rise to 2.3%. Core inflation fell from 3.5% in June to 3.3% in July, alongside services inflation which dropped sharply to 5.2% from 5.7% the previous month. Jeremy Batstone-Carr, European strategist at Raymond James Investment Services, noted that the recent uptick in inflation was «mechanistic» as it...
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