UK inflation climbs to 2.9% as energy costs bite
UK inflation rose to 2.9% in July, adding to pressure on businesses and consumers as higher energy costs fed through into the wider economy.
The latest Consumer Prices Index figure, published by the Office for National Statistics, compares with 2.6% in June and was in line with economists’ expectations.
The increase was attributed to higher household energy costs, following a 13% rise in the Ofgem price cap from 1 July. The change added around £221 a year to the typical household energy bill.
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