In July UK consumer price inflation surged to 4.4%; House prices fell as property market slowed to a “virtual standstill”
Aug 12th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
In the year to July, the UK consumer price inflation (CPI) rose by 4.4 per cent, up from 3.8 per cent in June - more than double the Bank of England's target of 2 per cent. Meanwhile UK house prices fell in July as the squeeze on credit brought the property market to a ``virtual standstill,'' the Royal Institution of Chartered Surveyors (RICS) said.