UK CPI ticks higher in July, beats estimates

The UK consumer prices rose 0.6% y/y in July from 0.5% seen a month before, matching market forecasts of 0.5%, the Office for National Statistics (ONS) revealed on Tuesday.

While the core inflation gauge eased a bit to 1.3% in July versus 1.4% last, although came in line with expectations.

On monthly basis, the UK inflation figures came in line with expectations, dipping -0.1% in July versus 0.2% seen previously.