Inflation rises in blow to hopes that interest rate cuts are just around the corner

There is an upwards ratchet to both the wage setting process and the price process and it may well be structural, having been created during this period of very high inflation over the last couple of years

The ONS surveys only about 100 hotels, which means outliers, such as a Welsh hotel price in June boosted by demand from a Pink concert, can distort the figures. But some hotel price inflation is genuine.”