UK inflation rises less than expected to 2.2%

The largest contribution to the headline inflation figure came from gas and electricity prices, as they fell less than they did a year ago, while the largest contribution came from restaurants and hotels, where prices fell. Economists polled by Reuters had expected a headline inflation rise to 2.3%. Core inflation fell from 3.5% in June to 3.3% in July, alongside services inflation which dropped sharply to 5.2% from 5.7% the previous month.  Raymond James Investment Services European strategist Jeremy Batstone-Carr noted that the recent uptick in inflation was "mechanistic" as it can ...