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UK Inflation Expected to Rise Above 3% This Month on Energy Price Hike, ICAEW Warns

2026-07-22 06:59:11

According to Suren Thiru, chief economist at the Institute of Chartered Accountants in England and Wales, on July 22, UK inflation is expected to rise sharply this month. Thiru noted that June's moderation in inflation was temporary; the Office of Gas and Electricity Markets (Ofgem) recently raised the energy price cap, which is likely to reverse the downward trend and push inflation above 3%. Geopolitical tensions over Iran have also increased the risk of inflation reaching 4%, though weak economic growth may limit secondary inflation effects from energy prices.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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