Energy Bills Fuel Inflation Comeback as Bank of England Faces Policy Dilemma

• Inflation: Expected to jump to 2.9% in July, up from 2.6% in June
• GDP Growth: 0.4% in Q2, slowing from earlier momentum
• Energy Bills: Ofgem price cap hiked by 13% to £1,862/year
• Heatwave Cost: £4.4bn wiped from UK economy by end of July

The Checkup

UK households are bracing for a cost of living squeeze as soaring energy bills threaten to undo months of progress on inflation. The Office for National Statistics releases July's CPI figures...