UK Inflation Falls But Housing Prices Rises in July

Inflation fell in July but remains well in excess of pay rises for the average British worker, leaving many households struggling with falling incomes.

The consumer price index (CPI) measure of the cost of living remained well above the Bank of England’s government-set target, at 2.8%, while the broader retail price index (RPI), the measure of inflation used to set rail fares, was 3.1%. This means rail passengers now face fare rises of more than 4% in the new year.

Official statistics showed the RPI, which is also used to set many pay deals, eased to 3.1% in July from 3.3% in June. Both measures far outstripped average pay growth

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza