Forex
UK Inflation Hits 2.9% on Ongoing Middle East Conflict
The UK's annual inflation rate rose to 2.9% in July, driven by higher energy bills.
The Consumer Prices Index increased from 2.6% in June to 2.9% in July, according to the Office for National Statistics.
The largest rise in gas prices was recorded in nearly four years due to a 13% hike in household energy bills resulting from the ongoing US-Iran war.
New Prime Minister Andy Burnham has pledged to ease cost-of-living pressures by implementing measures such as a tax cut on household electricity prices and a cap on bus fares.