UK energy bills surge lifts inflation forecast to 2.9%

UK energy bills jumped again last month on higher wholesale gas costs, with the price cap set to push headline inflation toward 2.9 percent. That feeds directly into Bank of England rate expectations and keeps global dollar liquidity tighter than markets have priced. Bitcoin sits unchanged near 63,000 dollars with exchange inflows adding fresh supply and MVRV at 1.20 showing no strong holder conviction either way. The Middle East energy disruption has raised Brent above 88 dollars without yet producing capital flight into non-sovereign assets. Consensus treats higher UK inflation as contained and reversible, yet it collides with already elevated US yields near 4.70 percent and ample reserves that show no urgency to ease. How long can the Fed and BoE both stay patient while energy costs compound into broader price pressure?