The United Kingdom's Consumer Price Index (CPI) inflation rate rose to 2.9% year-over-year in July, as predicted by markets.
This was up from June's 2.6%, and significantly higher than the Bank of England's (BoE) 2% target.
The core CPI, which excludes volatile food and energy items, also rose to 2.6% year-over-year in July, beating expectations of 2.5%.
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