London August 16 2023: UK Consumer Prices Index cooled to 6.8% in July 2023 down from 7.9% in June, the Office for National Statistics said.
On a monthly basis, CPI fell by 0.4% in July 2023, compared with a rise of 0.6% in July 2022.
Falling gas and electricity prices provided the largest downward contributions to the monthly change in CPIH and CPI annual rates; food prices rose in July 2023 but by less than in July 2022, also leading to an easing in the annual inflation rates.
Hotels and passenger transport by air were the classes that provided the largest offsetting upward contributions to the change in the rate.
Core CPIH (excluding energy, food, alcohol and tobacco) rose by 6.4% in the 12 months to July 2023, the same rate as the 12 months to June 2023; the CPIH goods annual rate slowed from 8.5% to 6.1%, while the CPIH services annual rate was 6.5%, up from 6.3% in June.
Core CPI (excluding energy, food, alcohol and tobacco) rose by 6.9% in the 12 months to July 2023, unchanged from June; the CPI goods annual rate slowed from 8.5% to 6.1%, while the CPI services annual rate rose slightly from 7.2% to 7.4%.
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