UK Inflation Rises Amid Furniture Price Hike

The UK's Consumer Prices Index (CPI) rose to 2.9% in July, an increase from 2.6% in June, according to the Office for National Statistics (ONS).

Furniture and carpet prices were a significant contributor to this rise, increasing by 1.5% in July compared to a decline of -0.3% in the previous month.

The ONS also reported that housing and household services made the largest upward contributions to both CPIH and CPI annual rates.

In the producer price inflation (PPI) data, furniture output prices rose 2.5% in July compared to the same month last year, while input prices increased by 4.2%, up from a rise of 3.1% in June.