UK inflation rises to 2.9% as Iran war drives up energy bills

Accelerating prices in July add to pressure on households, with chancellor saying ‘there is more to do to restore hope’ Business live – latest updates UK inflation rose to 2.9% in July as the impact of the Iran war on energy prices triggered a renewed cost of living squeeze for British households. The Office for National Statistics said inflation rose from a 15-month low of 2.6% in June, driven by the rising price of gas and electricity. Matching City economists’ forecasts, it was the first…