Latest UK inflation figure about to be released

Inflation likely to fall - but not for long published at 06:55 BST Ben King Business reporter, BBC News Awe we just reported, inflation numbers could see a temporary dip as a result of lower petrol and diesel prices. June saw a period of relative calm in the US-Iran war, when Washington and Tehran agreed to halt military operations and reopen the Strait of Hormuz - a key route for global oil supplies. This led to cheaper prices at the pumps. Lower inflation is, however, expected to be short-lived. The price cap on gas and electricity rose in July, lifting the typical household energy bill by 13%. Meanwhile, the resumption of military strikes in the Middle East has sent oil prices back over $90 a barrel. If it stays elevated, that risks inflaming inflation. For now, much depends on how long the war continues, and how high energy prices remain. Image source, Getty Images Image caption, A petrol forecourt on London on 29 May