Eurozone inflation drops; UK recession fears linger; Apple hits $3trn valuation – as it happened

Eurozone price pressures have eased, although core inflation has risen, as economists warn UK recession risk has not vanished

• Full story: UK house prices rise unexpectedly in June but annual rate falls

This chart shows that all regions of the UK, except Northern Ireland, saw annual price falls in the second quarter of this year:

All English regions saw a slowing in the annual rate of change compared with last quarter.

London saw a 4.3% year-on-year decline, while the surrounding Outer Metropolitan region saw a 2.9% fall.

Across northern England overall (which comprises North, North West, Yorkshire & The Humber, East Midlands and West Midlands), prices were down 2.7% compared with Q2 2022. The North West was the weakest performing northern region, with prices down 4.1% year-on-year. Meanwhile southern England (South West, Outer South East, Outer Metropolitan, London and East Anglia) saw a 3.8% decline.