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UK's Annual Inflation Accelerates to 2.9% in July

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Britain's annual inflation rate rose to 2.9% in July from 2.6% in June, according to data from the Office for National Statistics published Wednesday.

The latest reading matched the consensus estimate for the month.

On a monthly basis, consumer prices were 0.3% higher, as expected, compared with a 0.1% gain earlier.

Meanwhile, the UK's annual core inflation rate was 2.6%, unchanged from the prior month and higher than the expected 2.5%. Month over month, core consumer prices edged up 0.2%, following a 0.3% lift in June and the consensus estimate of a 0.1% increase.

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