UK Inflation Set to Rebound as Energy Bills Surge

Rising energy prices are poised to send UK inflation rearing back up, as economists warn that the summer boost to the economy could be fleeting. The rate of Consumer Prices Index (CPI) inflation is tipped to rise to 2.9 per cent in July, climbing from June’s 15-month low of 2.6 per cent, when the Office for National Statistics (ONS) releases its figures on Wednesday. While frequent heatwaves and the World Cup have boosted the UK’s summer economy, economists are sounding the alarm over Ofgem’s recent hike to its energy price cap....