UK Inflation Slows More Than Expected in July

British inflation slowed faster than expected in July, according to official data released on Wednesday, August 18, to 2% on an annual basis, compared to 2.5% in June.

Economists polled by Reuters had expected inflation for July to be 2.3%.

Official data showed that the rate of inflation in Britain rose more than the rate targeted by the Bank of England in June to reach 2.5%, compared to 2.1% in May.