# UK inflation rate slows to 6.8% in July
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-08-16
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: UK inflation rate slows to 6.8% in July as indicated by ONS
Meta Description: Discover how the UK inflation rate slowed to 6.8% in July according to the latest figures from the Office for National Statistics.
URL: https://financedigest.com/uk-inflation-rate-slows-to-6-8-in-julyhtml

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LONDON (Reuters) – British annual consumer price inflation slowed to 6.8% in July, figures from the Office for National Statistics showed on Wednesday.

Economists polled by Reuters had forecast that the CPI rate in the 12 months to July would drop to 6.8% from June’s 7.9%, moving further away from October’s 41-year high of 11.1% but still far above the Bank of England’s 2% target.

The BoE said earlier this month that it expected inflation in July would fall to 6.8%.

The BoE is watching core inflation – which strips out volatile food and energy prices – and consumer services prices closely.

Core inflation remained at 6.9% in July, flat versus the June reading, and higher than expectations in the Reuters poll for a reading of 6.8%.

(Writing by William James, reporting by Andy Bruce and William Schomberg)


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