U.K.’s July CPI -0.4% m/m (expected -0.5%; last 0.1%); 6.8% yr/yr, as expected (last 7.9%). Core CPI 0.3% m/m (expected 0.2%; last 0.2%); 6.9% yr/yr (expected 6.8%; last 6.9%). July Input PPI -0.4% m/m (expected 0.0%; last -1.3%) and Output PPI 0.1% m/m (expected -0.2%; last -0.2%)
British lenders are lowering their mortgage rates as inflation expectations recede.