UK Inflation Climbs to 2.9% as Iran Conflict Hits Energy Bills

UK inflation rose to 2.9% in July 2026, up from 2.6% in June — the first increase since March, per the ONS. Gas and electricity prices drove the jump, the sharpest summer energy bill rise in four years, tied to the US-Israel war on Iran pushing up wholesale gas costs. It was the biggest UK gas price surge since Russia's 2022 invasion of Ukraine.