A run of encouraging data shows the U.S. is on track to cure its inflation problem. The same cannot be said for the U.K., where inflation is proving stubborn. Why it matters: Policymakers have warned about dreaded outcomes that would make inflation difficult to stamp out, including sticky service sector price gains and rapid pay increases. Those scenarios look to be playing out in the U.K., despite the central bank's aggressive actions. What's new: The headline annual inflation rate was 6.8% in July, down from the 7.9% the prior month — a dramatic decline that "principally reflected" plummeting energy prices, ... (full story)