UK Inflation Jumps on Energy Price Hike

UK inflation ticked up to 2.9% in July, following a 13% rise in regulated energy prices that pushed household bills higher.

The increase matched economists' expectations and was only slightly above the Bank of England's forecast of 2.8%, but underlying pressure on inflation appears to be easing.

Services inflation eased to 3.4% from 3.6%, while 'core' inflation, which strips out energy, food, alcohol, and tobacco prices, held steady at 2.6%.