Rising UK consumer confidence gives Andy Burnham ‘golden opportunity’, survey says – business live

BRC says confidence in economy hits highest level since the lows reached at start of Iran war

In Germany, factory gate inflation hit a three-year high in July, adding to signs of fresh inflationary pressures in Europe’s largest economy.

Prices charged by manufacturers for their goods, ranging from food to cars and tools, climbed 3% year on year last month following June’s 1.8% rise, Germany’s statistics office said. Economists had expected an increase to 2.7%.

Conditions at the early stages of the inflationary surge have suddenly become uncomfortable. The war involving Iran is leaving its mark, as it the heat.