US
· U.S. consumer prices were unchanged in July as the cost of gasoline fell for the first time in five months and underlying inflation moderated. Last month's flat reading in the Consumer Price Index was the weakest since February and followed two straight monthly increases of 0.2 percent. In the 12 months through July, the CPI rose 0.8 percent after increasing 1.0 percent in June.
· The so-called core CPI, which strips out food and energy costs, edged up 0.1 percent in July. It had risen by 0.2 percent in each of the previous three consecutive months. The year-on-year core CPI increased 2.2 percent after rising 2.3 percent in June.
UK
· The annual inflation rate as measured by the Consumer Prices Index (CPI) rose to 0.6% in July from 0.5% in June. More expensive alcoholic drinks and hotel rooms have helped to increase the CPI rate.
· The Retail Prices Index (RPI) measure of inflation rose to 1.9% in July from 1.6% in June. July's RPI inflation rate sets the cap for how much regulated rail fares in England, Scotland and Wales can rise by next year.
Source: Reuters, BBC, Phillip Securities Research (Singapore)
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