British inflation climbs to 0.6pc

London: Britain's annual inflation rate edged higher last month, official data showed on Tuesday, and is set to climb further as a weak pound caused by the Brexit vote raises import prices.

The 12-month Consumer Price Index rose by 0.6 percent in July, the Office for National Statistics said in a statement. CPI had risen by 0.5 percent in the year to June, the ONS added.

"Although the small increase in the rate between June 2016 and July 2016 takes it to the highest seen since November 2014, it is still relatively low in the historic context," the ONS said in a statement.

"The main contributors to the increase in the rate were rising prices for motor fuels, alcoholic beverages and accommodation services, and a smaller fall in food prices than a year ago," it added.