World Economy

UK Inflation Slightly Up

UK Inflation Slightly UpUK Inflation Slightly Up

British consumer price inflation was a smidgen stronger in July than analysts had expected, coming in at +0.1% year-on-year, Business Insider reported. Core prices, which strip out the effects of volatile items like food and energy, rose by 1.2%, considerably more than expected. Analysts were expecting pretty much precisely what happened in June to happen in July too—0% consumer price inflation year-on-year, and 0.8% core price inflation. Inflation is bumping along near 0%, far from the Bank of England’s 2% target, but that’s not expected to last forever. CPI is particularly low because of oil prices, which have driven down the cost of fuel.