UK Inflation Surges to 2.9% Amid Energy Price Hike

UK inflation rose to 2.9% in July due to higher energy prices and concerns over food costs from the summer heatwave.

The Consumer Prices Index (CPI) inflation rate increased from a 15-month low of 2.6% in June, with core inflation remaining at 2.6%, unchanged from the previous month.

The sharp increase in gas prices contributed significantly to the rise, as shown by the largest rise in gas prices for almost four years.

Food and drink annual inflation fell to 1.3% in July, with fish (13.6%) and fruit (8.1%) rising fastest and pizza (-8.5%) and butter (-5.3%) falling quickest.