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Evening Standard
Evening Standard
Business
Holly Williams

What impact will July’s energy price hike have on UK inflation figures?

Inflation United Kingdom Bank of England Ofgem
UK inflation is set to have eased last month as a drop in household energy bills offset a jump in fuel prices but experts warned of turbulence ahead as the Iran energy price shock “catches up” with the cost of living (Alamy/PA) -

Higher energy prices are expected to send UK inflation surging back up when official figures are released on Wednesday amid fears the summer’s record heatwaves may also start putting pressure on food costs.

Many experts are forecasting that Consumer Prices Index (CPI) inflation will rise to 2.9% in July, up from a 15-month low of 2.6% in June and the highest rate since March.

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