🇬🇧🥷 UK inflation rises to 3.8%, highest level in 19 months
British inflation accelerated in July to 3.8% year-on-year, above expectations and the previous month (3.6%). The increase was driven by food, services, and airfares, which jumped by 30% in the month.
This data reduces the chances of interest rate cuts by the Bank of England in 2025 and increases pressure on families and the government's budget.