RTTNews - UK annual inflation stayed below the central bank's target of 2% for the second straight month in July, the Office for National Statistics reported Tuesday. Annual inflation stood at 1.8% in July, the same as in June. Economists had expected the inflation rate to slow to 1.5%. Month-on-month, consumer prices remained flat, while economists were expecting a 0.3% fall.

Core inflation that excludes energy, food, alcohol and tobacco was 1.8% in July.

Further, the ONS report showed that retail prices declined 1.4% in July from the prior year, which was slower than the expected fall of 1.7% and June's 1.6% drop.

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