
UK Inflation Soars to 18-Month High on Surging Airfares and Food Costs, Clouding Rate Cut Prospects
London, United Kingdom – The United Kingdom’s economic landscape has taken a challenging turn as consumer price inflation (CPI) unexpectedly surged in July, hitting 3.8%. This unwelcome increase, primarily driven by a sharp rise in airfares and persistent food price hikes, has significantly dented market expectations for further interest rate cuts by the Bank of…