Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes

Read Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes on 92.5 FOX News App

Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes

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.