The United Kingdom's Consumer Price Index (CPI) rose to 2.9% year-over-year in July, exceeding market expectations and the Bank of England's 2% inflation target.
This increase from June's 2.6% was expected by analysts and marks the highest reading in four months.
The core CPI, which excludes volatile food and energy items, also rose to 2.6% year-over-year in July, above the predicted 2.5%.
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