Sterling soars to seven-year high on surprise inflation rise

UK inflation rises 0.1% in July to beat forecasts

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Sterling jumped to a seven-year high after it emerged Consumer Prices Index inflation had not stagnated at the zero mark for another month as expected, rising by 0.1% in July.

While economists had been expecting inflation to remain at zero for another month, the latest report from the Office for National Statistics (ONS) revealed it had edged up in July. As a result, ...

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