UK July CPI +2.2% vs +2.3% y/y expected ...Middle East

Prior +2.0%Core CPI +3.3% vs +3.4% y/y expectedPrior +3.5%The standout detail here is a further drop in core annual inflation in July. The headline reading is also lower than estimated but is a slight increase to June. But as core prices are seen easing further, that's a vote of confidence for the BOE to perhaps look to cut again in the months ahead. The odds of a September rate cut were ~36% before the report, so we'll see how that changes up later when the market opens. This article was written by Justin Low at www.forexlive.com.

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UK July CPI +2.2% vs +2.3% y/y expected ...Middle East

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