Business · 19 August 2026
UK inflation hits 2.9%, but the pound still gains
The jump from June's 2.6% matched what most analysts expected, though it slightly beat predictions from the Bank of England. The British currency went up by 0.14% against the US dollar early on Wednesday, recovering from a disappointing jobs report. Financial markets are predicting at least one more rate increase this year, although most experts think borrowing costs will stay at 3.75%.
Reported by Reuters · How we write briefs