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UK Inflation Hits 3.8%, Driven by Airfares and Food Costs

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Source: Reuters
UK Inflation Hits 3.8%, Driven by Airfares and Food Costs
Photo: Reuters
TL;DR Summary

UK inflation rose to 3.8% in July, the highest in 18 months, driven by service sector inflation and rising utility and transport costs, making it the fastest among G7 economies. The Bank of England signaled a cautious approach to interest rate cuts amid persistent inflation pressures, which are expected to remain above target until mid-2027.

Topics:top-news#bank-of-england#economy#interest-rates#price-increases#service-sector#uk-inflation
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  1. UK inflation rises to highest since early 2024 at 3.8%  Reuters
  2. UK inflation rises by more than expected to 3.8%, largely driven by air fares  BBC
  3. Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes  The Hill
  4. Air fares and food prices push up inflation to 3.8% in July  BBC
  5. Taylor Swift’s impact has shown up in economic data before. Now it’s Oasis getting blame for hot U.K. inflation.  MarketWatch

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