Inflation in the United Kingdom moderated sharply in July, mainly due to lower prices for clothing and footwear.
According to Britain’s National Statistics Office, inflation fell to 2 percent year on year from 2.5 percent in June, its highest level in nearly three years.
Inflation has thus returned to the level that the Bank of England is aiming for. Goods such as toys and hobby items also became cheaper last month. Fuel prices went up.
Earlier this year, British inflation continued to rise due to the easing of the corona measures, which started the economy again and boosted consumer prices.
Incidentally, the British central bank and economists expect inflation in the United Kingdom to rise again due to high raw material costs and problems in the global supply chain.