UK Annualized CPI Beats Estimates

The UK Consumer Prices Index (CPI) 12-month rate came in at +1.0% in July compared to +0.6% in June while beating expectations of a +0.6%, the UK Office for National Statistics (ONS) reported on Wednesday.

Meanwhile, the core inflation gauge (excluding volatile food and energy items) came at +1.8% YoY last month versus +1.4% in June while beating the consensus forecast of +1.3%.