8/17, 8:00 AM (Source: TeleTrader)
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UK inflation jumps to record 10.1% in July

The United Kingdom's Consumer Price Index (CPI) increased by 10.1% in July in comparison to the same period a year earlier, the report from the Office for National Statistics showed on Wednesday. The figure came in above analysts' expectations of 9.8% and saw a rise from June's figure of 9.4%, marking a fresh 40-year high. Month on month, consumer prices were up 0.6%.

Core CPI in July jumped 6.2% year on year. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) soared 8.8% in comparison to July 2021, while the reading was 0.6% up compared to the month prior.

Meanwhile, the producer input and output price rates saw annual growths of 22.6% and 17.1% in July, respectively, as food products, and metals and non-metallic minerals provided the most significant upward contributions. In comparison to June, the output data rate was up by 1.6%, and the input figure rose 0.1%.

Baha Breaking News (BBN) / AY