UK Inflation Rebounds Amid Rising Energy Costs and Middle East Tensions
UK inflation has seen a rebound, rising to 2.9 percent in the year to July from 2.6 percent in June.
This increase was largely anticipated by wealth managers due to higher energy costs and the ongoing conflict in the Middle East starting to affect households.
The main contributor to this rise was a 13 percent jump in the household energy price cap, taking inflation to its highest level since March.