How to install Python 2.7 using tar file in linux

Here is a way you could install Python 2.7 while your have a lower default python version.

wget http://www.python.org/ftp/python/2.7.6/Python-2.7.6.tgz
tar -xzf Python-2.7.6.tgz  
cd Python-2.7.6

Now read the README file to figure out how to install, or do the following with no guarantees from me that it will be exactly what you need.

./configure  
make  
sudo make altinstall

note that use altinstall and not try to replace the new python in bin folder as some of the other applications might use the older version and might get broken afterwards..yum is a serious example..