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Inflation hits highest level since January 2024
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyle(Gareth Fuller/PA Wire)UK Consumer Prices Index (CPI) inflation rose to 3.8% in July, up from 3.6% in June, surpassing most economists' forecasts of 3.7%. Transport was the main contributor to the inflation increase, primarily driven by a 30.2% surge in air fares between June and July, the largest monthly rise since 2001. Petrol and diesel prices also increased in July, contrasting with a decline during the same period last year. Food and drink inflation continued its upward trend for the fourth consecutive month, reaching 4.9% in July from 4.5% in June. Chancellor Rachel Reeves acknowledged that further measures are required to alleviate the cost of living pressures on households. In fullInflation live: UK rate rises to 19-month high due to food prices and air fares, ONS saysThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
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cnbc.com
UK inflation picks up to hotter-than-expected 3.8% in July
The U.K.'s annual inflation rate hit a hotter-than-expected 3.8%in July, according to data released by the Office for National Statistics (ONS) on Wednesday.
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theguardian.com
UK inflation rises by more than expected to 3.8% amid higher food prices
Fuel and air fares also pushed up annual July rate, making interest rate cuts less likely this year
