UK Inflation Leaps to 2.9% as Energy Bills Surge, Testing Burnham’s Cost-of-Living Pledges

UK inflation rose to 2.9% in July, but that's still below the Bank of England's 3% threshold and well off the double-digit peaks of 2022. Chancellor John Healey points to a resilient economy, while the government's VAT cut on electricity bills—saving households an average of £45 a year from October—offers direct relief. Wage growth, though slowing, remains positive at 4.1% overall, and the slowdown in private‑sector pay to 2.8% could deter the Bank of England...