Higher food and airfare prices pushed U.K. inflation above expectations in July. The development has tempered market expectations that the Bank of England will cut interest rates again this year.

July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.

The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.

A steep jump in the cost of air travel, along with increases in the price of many everyday items from tea and coffee to potatoes and eggs, helped push the UK’s overall rate of inflation in July to an 18-month high. The average cost of air tickets was 15. ...

Prices in the UK rose by 3.8% in the year to July, driven mainly by a jump in the price of air fares and food. That means inflation is at its highest level since January 2024 and still far above the Bank of England's target of 2%,

The chancellor will have a particular eye on food inflation because people are especially sensitive to grocery price rises. At 4.9%, it’s the highest since February 2024, driven

Canada's annual inflation rate eased to 1.7% in July from 1.9% in the prior month as lower year-on-year gasoline prices kept the consumer price index low, data showed on Tuesday.

The Bureau of Labor Statistics reported the producer price index jumped more than expected in July, spurring renewed concerns about inflation's economic impact.