London | Britain’s inflation rate increased less than economists and the Bank of England had expected, prompting traders to step up bets on a further loosening in interest rates.
The Consumer Prices Index rose 2.2 per cent in July after a 2 per cent gain in each of the two previous months, the Office for National Statistics said on Wednesday. Economists had expected a reading of 2.3 per cent, and the BoE was forecasting 2.4 per cent.
