UK inflation rises to 2.9% as Iran war fuels living costs squeeze

Higher energy costs push up CPI but jobs slowdown could deter Bank of England from raising interest ratesBusiness live – latest updatesUK inflation rose to 2.9% in July as the impact of the Iran war on energy prices triggered a renewed cost of living squeeze for British households.Underscoring the challenge for Andy Burnham’s government to give “breathing space” to hard-pressed consumers, the Office for National Sta…