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UK inflation rate rises to 0.6%

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Update: 2016-08-16 06:05:47
UK inflation rate rises to 0.6%

DHAKA: Rising fuel prices helped to push the UK’s inflation rate higher last month, official figures show.

Inflation as measured by Consumer Prices Index (CPI), rose to 0.6% in July from 0.5% the month before, the Office for National Statistics said, reports the BBC.

More expensive alcoholic drinks and hotel rooms also helped to increase the CPI rate, the ONS said.

The Retail Prices Index (RPI) measure of inflation rose to 1.9% in July from 1.6% in June.

July’s RPI inflation rate sets the cap for how much regulated rail fares in England, Scotland and Wales can rise by next year.

Separate figures from the ONS suggested that the fall in the value of the pound since the UK's referendum vote to leave the EU had increased the cost of imports for manufacturers.

Input prices faced by manufacturers rose 4.3% in the year to July, compared with a fall of 0.5% in the year to June.

BDST: 1554 HRS, AUG 16, 2016
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