News · 19 August 2026
UK inflation hit 2.9% in July driven by 13% higher energy bills
The UK's inflation rate climbed to 2.9% in July, an increase from June's 2.6%, primarily attributed to a 13% jump in energy costs over the preceding month. The Bank of England's 2% inflation target is now more distant due to this escalation, despite the government's implementation of the Great British Summer Savings Scheme. Business leaders are urging Andy Burnham's government to support firms facing higher costs from inflation and the Iran war.
Reported by Independent · How we write briefs