UK headline inflation picks up in July, core prices hold steady

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 holding steady in July at 2.6%, as it was back in June. 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…