07:00 - 20.08.2026

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August 20, Fineko/abc.az. UK consumer price inflation accelerated to 2.9% year-on-year in July, up from a 15-month low of 2.6% in June, according to the Office for National Statistics (ONS). The rise was primarily driven by a 13% increase in the household energy price cap.

Conversely, services inflation slowed from 3.6% to 3.4%, while core inflation held steady at 2.6%. Following the data release, the British pound edged up to $1.3541. Geopolitical tensions between the US and Iran and persistent energy costs continue to complicate potential interest rate cuts by the Bank of England.