UK inflation up 2.9% driven by rising energy costs

The figure represents a 0.3% jump from June 2026 and is attributed to rising energy prices. The Office for Gas and Electricity Markets (Ofgem) changed the energy price cap in July 2026 in part due to rising wholesale energy prices. The Consumer Prices Index (CPI) rose by 2.9% in the 12 months to July 2026, rising by 0.3% month-on-month. The Consumer Prices Index including owner occupiers' housing costs (CPIH) also rose by 3.1% in the 12 months preceding July 2026. Sarah Pennells, consumer finance expert, Royal London, said: "The increase in the inflation rate is not unexpected, fol...