All the latest economic and financial news, including the latest UK inflation data at 9.30am and votes on Greece’s bailout in Spain and Estonia todayIntroduction: Waiting inflation and GreeceSchäuble urges German MPs not to rebelChinese stock market tanks 6% 9.35am BST The pound has just jumped by almost half a cent against the US dollar, as the inflation data hit the wires.One reason: core inflation, which strips out volatile factors like energy and food, jumped to 1.2% last month. That’s a five-month high, suggesting underlying inflationary pressures are building, putting pressure on the Bank of England to raise interest rates.Pound spikes higher as inflation comes in slightly stronger than expected. +1.2% core YoY price growth pic.twitter.com/fWZMS9P9Lr 9.33am BST Breaking: Britain’s headline inflation rate turned positive, just, last month.The Consumer Prices Index rose by 0.1% in July, compared to a year ago, according to the Office for National Statistics. That is up from 0.0% in June. Continue reading...
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