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Inflation has fallen again in the United Kingdom. In July, consumer prices were up 2 percent from a year earlier, up from 2.5 percent in June. This is due to the high moderate prices for clothing and entertainment products. This was announced by the British statistics firm ONS on Wednesday.
Inflation in the United Kingdom reached 2.5 percent in June, the highest level since August 2018. Low inflation was mainly due to the recession in the apparel sector, where prices rose 1.7 per cent in June. Prices for toys have also fallen sharply, and for audiovisual tools and books have risen very slowly.
Economists expect prices to rise again later this year as global economies recover. The Bank of England (BoE) estimated in early August that inflation would rise to 4 per cent temporarily in the fourth quarter, before falling to the UK.
In other industrialized countries, inflation is high. In the United States, it was 5.4 percent in July. Inflation in the euro zone rose to 2.2 percent in July from 1.9 percent in June.
Inflation in the United Kingdom reached 2.5 percent in June, the highest level since August 2018. Low inflation was mainly due to the recession in the apparel sector, where prices rose 1.7 per cent in June. Prices for toys have also fallen sharply, and for audiovisual tools and books have risen very slowly. Economists expect prices to rise again later this year as global economies recover. The Bank of England (BoE) estimated in early August that inflation would rise to 4 per cent temporarily in the fourth quarter, before falling to the UK. In other industrialized countries, inflation is high. In the United States, it was 5.4 percent in July. Eurozone inflation rose to 2.2 percent in July from 1.9 percent in June.
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