UK energy price surge complicates Bank of England's path to cutting rates
A sharp rise in oil and natural gas prices is likely to push U.K. consumer inflation higher while weakening near-term growth, according to J.P. Morgan. The bank's analysis shows that oil at $78 per barrel and gas trading near 95 pence per therm would lift CPI modestly and could prompt the Bank of England to delay planned interest-rate reductions un…