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flag UK inflation hit 3.8% in July, driven by higher airfares and food prices, surpassing forecasts.

flag UK inflation rose to 3.8% in July, driven by higher air fares and food prices due to increased summer travel. flag Air fares surged by 30.2% between June and July, the largest increase since records began in 2001. flag Food and drink inflation also rose to 4.9%, marking the fourth consecutive month of increase. flag The Bank of England predicts inflation will peak at 4% in September before easing. flag Chancellor Rachel Reeves acknowledged the need to address rising living costs.

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