SURPRISE INCREASE: Official figures showed an unexpected increase in inflation in Britain that may put a damper on expectations for another round of monetary stimulus from the Bank of England.
FORECASTS WRONG: Inflation rose to 2.6 percent in July from the previous month’s 2.4 percent, while most analysts predicted a drop to 2.3 percent.
BEHIND THE DATA: The Office for National Statistics said a 22 percent jump in airfares between June and July and a lower-than-expected drop in prices for clothing and footwear were behind the increase.
