Accelerating UK inflation has left the gap with Eurozone price growth at its widest in nearly two years, new data showed on Wednesday, underscoring the stubborn price pressures confronting the Bank of England.
The UK’s consumer prices index rose 3.8 per cent in the year to July, the Office for National Statistics said, an unexpectedly sharp pick-up from June’s 3.6 per cent reading.
By contrast, Eurozone inflation held steady in the same month at 2 per cent, according to separate data from Eurostat, the EU’s statistics agency, with a reading of just 0.9 per cent in France.
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