UK Inflation Soars to 3.8%, Highest in 19 Months

The UK’s inflation rate surged to a new high of 3.8% in July, marking the highest level in nearly two years and raising concerns about potential market instability. According to official data from the Office for National Statistics (ONS), this increase signifies an ongoing economic pressure on the nation. Experts anticipate that higher inflation could prompt tighter monetary policy by the UK’s financial authorities, potentially impacting risk-heavy assets like cryptocurrencies. This volatility is expected to impact both traditional financial markets and the cryptocurrency market.