UK inflation rises to 3.8% in July

This figure exceeded market forecasts, as economists surveyed by Reuters had anticipated a 3.7% figure instead. Core CPI rose by 3.8% year on year in July, up from 3.7% a month earlier, while the CPI services annual rate was up from 4.7% in June to 5% last month. According to ONS, transport, particularly air fares, was the largest contributor to the monthly upswing in both Consumer Prices Indices including owner occupiers' housing costs (CPIH) and CPI annual rates. The latest bout in inflation data complicates the path of interest rates, said Quilter investment strategist Lind...