Inflation's False Dawn: A Warning Shot for What's to Come? The recent rebound in UK inflation should be met with caution, according to JP Morgan's Scott Gardner. The 2.
9% headline rate may seem a welcome respite from previous months' declines, but this brief uptick is merely a harbinger of more substantial price increases to come.
While the Office for National Statistics announced that inflation measured by the retail prices index (RPI) rose to 3. 2% in July, the core rate of inflation remained steady at 2.