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UK inflation rises by more than expected to 3.8%, largely driven by air fares
Economists expected inflation to rise to 3.7%, though the Bank of England forecast for July inflation was 3.76%, slightly higher than consensus. Inflation in the UK has risen to an unexpected 3.8%, the Office for National Statistics says.
Air fares and food prices push up inflation to 3.8% in July
The cost of food and non-alcoholic beverages rose 4.9% in the year to July, up from 4.5% in the year to June. It was the fourth month in a row in which food and drink inflation had risen, bringing prices to their highest since February 2024.
Gilts broke out of a week-long slide on Wednesday, surging despite a hot inflation number that threatens to slow the pace of ...
Prices in the UK rose by 3.8% in the year to July, driven mainly by a jump in the price of airfares coinciding with the ...
Food Prices Up 4.9% To Highest Level Since February Prices rose 3.8% in the year to July, up from 3.6% the previous month, ...
The collection window for last month’s figures was “on or around 15 July”, while school summer holidays in England began on 23 July (eight days later) this year. Last year, collection was “on or ...
Florian IeIpo, head of macro at Lombard Odier Investment Managers, discuss sticky inflation in the U.K. and why the situation ...
UK inflation climbed for a second month in July, adding pressure on the Bank of England to reconsider its pace of ...
Food price inflation also continues to climb, with items such as coffee, fresh orange juice, meat and chocolate seeing the ...
Britain's FTSE 100 held steady on Wednesday as gains in consumer and healthcare sectors offset losses in energy and mining ...
The acceleration comes as the Bank of England continues to cut interest rates, most recently to 4 per cent this month, and follows a rush to complete purchases ahead of the end of the stamp duty ...
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