UK inflation rises to 2.9% as Iran war fuels living costs squeeze

INTELLIGENCE SUMMARY

Higher energy costs push up CPI but jobs slowdown could deter Bank of England from raising interest rates UK inflation rose to 2.9% in July as the impact of the Iran war on energy prices triggered a renewed cost of living squeeze for British households. Underscoring the challenge for Andy Burnham’s government to give “breathing space” to hard-pressed consumers, the Office for National Statistics said inflation rose from 2.6% in June. Continue reading...