12:39 - 16.08.2023

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Annual inflation in the UK in July fell to the lowest level since February 2022. While the process of tightening monetary policy continues in the UK, annual inflation has fallen to the lowest level in the last 1.5 years.

According to ABC.AZ , annual inflation in the country in July was 6.8%. Economists surveyed by Bloomberg had expected annual inflation to be 6.7%.

Consumer prices in July decreased by 0.4% compared to the previous month. Consumer prices, excluding energy and food, increased by 6.9% compared to the same period last year. Annual core inflation was also at this level in June.
At its last meeting, the Bank of England raised the rate to 5.25%, which is the highest rate in the last 15 years.