Increasing cost of motor fuels and second-hand cars drive inflation to 0.6 per cent in July, says Office for National Statistics

August 16, 2016 12:39 PM

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But while there was no sign of the plunge in the value of the pound having an impact on CPI, the ONS said the Producer Prices Index (PPI) showed the slump in sterling following the Brexit vote had pushed up the cost of imports for British manufacturers.

Input prices rose 4.3 per cent in the year to July, compared with a drop of 0.5 per cent in the year to June, as it was partly impacted by the fall in the value of the pound, which drove up the cost of imported metals and chemicals.

Also read: U.S. Industrial Production Rose 0.7% in April

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