UK inflation rises to 3.1% as motor fuel prices jump by almost a quarter
Financial markets predict one-in-five chance of quarter-point rise in interest rates when Bank of England decides on Thursday Business live – latest updates UK inflation has returned above 3% as soaring fuel and transport prices triggered by the Iran war heap renewed pressure on British households.
Figures from the Office for National Statistics show inflation as measured by the consumer prices index rose from 2.9% in July to 3.1% in August.
The increase, which matched City forecasts, was driven by motor fuel prices rising by almost a quarter.
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5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian UK.
