Technical 'bluff' sees UK 12-month inflation dip in July

Latest ONS figures

Mike Sheen
clock • 2 min read

The UK’s 12-month inflation rate saw growth slow in July, largely as a result of technical base effects linked to the first easing of lockdown conditions last year, the latest data from the Office for National Statistics (ONS) show.

ONS figures published this morning (18 August) show the Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 2.1% in the 12 months to July, down from 2.4% in the previous month. Meanwhile CPI rose by 2% in the 12 months to July 2021, down from 2.5% in June. Transport costs contributed to the largest upward contribution to the CPIH 12-month rate at 0.85 percentage points, while clothing and footwear, and a variety of recreational goods and services, applied the largest downward pressure. The ONS attributed "around 0.2 percentage points" of the easing in the ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read
IFAs look to boost clients' private markets exposure

IFAs look to boost clients' private markets exposure

Expect increase in stock market volatility

Jen Frost
clock 02 July 2025 • 2 min read
Winds of change: Private markets access for retail investors

Winds of change: Private markets access for retail investors

Investing in LTAFs, accessibility aside, needs careful consideration

Dorian Hughes
clock 02 July 2025 • 5 min read