JPMorgan warns rebound in UK inflation is ‘warning shot for what could come next’; oil prices rise again – business live

Inflation rebound driven by biggest jump in gas bills since October 2022; Asian shares slump after Wall Street chip sell-off The core rate of inflation, which strips out volatile items such as energy, food and alcohol, stayed at 2.6% in July, while economists had expected it to dip to 2.5%. Scott Gardner, investment strategist at J.P. Morgan Personal Investing, described the rebound in UK headline inflation as a “warning shot for what could come next”. He explained: UK headline inflation jumped in July as the Ofgem energy price cap rise hit household bills. The increase was expected but marks