{"id":436514,"date":"2026-08-19T13:00:20","date_gmt":"2026-08-19T06:00:20","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/uk-headline-inflation-picks-up-in-july-core-prices-hold-steady-436514\/"},"modified":"2026-08-19T13:00:20","modified_gmt":"2026-08-19T06:00:20","slug":"uk-headline-inflation-picks-up-in-july-core-prices-hold-steady","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/uk-headline-inflation-picks-up-in-july-core-prices-hold-steady-436514\/","title":{"rendered":"UK headline inflation picks up in July, core prices hold steady"},"content":{"rendered":"<div>\n<ul>\n<li>July CPI +2.9% vs +2.9% y\/y expected<\/li>\n<li>Prior +2.6%<\/li>\n<li>July core CPI +2.6% vs +2.5% y\/y expected<\/li>\n<li>Prior +2.6%<\/li>\n<\/ul>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The headline figure is in-line with estimates but core annual inflation is seen holding steady in July at 2.6%, as it was back in June.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">As mentioned in the preview, the rise in energy prices is what mostly contributed to the jump in headline annual inflation. The rise in prices comes after a change in the Ofgem price cap in July, with households estimated to be paying\u00a0\u00a3221 on average more on their energy bill.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">Meanwhile, services inflation is seen easing slightly to 3.4% in July &#8211; down from 3.6% in June. That largely stems from a smaller rise in air fares this year (+11.7% between June and July 2026), compared to the the year before (+30.2% between June and July 2025). ONS notes that the\u00a0downward effect from air fares came almost entirely from European routes, where prices fell by 4.3% compared with a 38% rise in July 2025.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">Food price inflation also eased in July, reflecting a fall to 1.3% from 1.7% in the month before. However, goods price inflation is seen pushing back up above 2% with the July estimate seen at 2.2% &#8211; up from 1.7% in June. The stronger jump there is what is keeping core prices more sticky in the latest report here.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">Overall, this is not likely to push the BOE into taking any hasty actions in September still but it definitely leaves the door open for perhaps another move by year-end.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">GBP\/USD is up 0.1% on the day to 1.3541 currently, not all too much changed from the report.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">\n<p>                            This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>July CPI +2.9% vs +2.9% y\/y expected Prior +2.6% July core CPI +2.6% vs +2.5% y\/y expected Prior +2.6% The headline figure is in-line with estimates but core annual inflation is seen&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-436514","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=436514"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=436514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=436514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=436514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}