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UK inflation rate rises to 3.1% in year to August
- Official figures published on Wednesday showed British inflation accelerated to a five-month high of 3.1% in August, rising from 2.9% in July.
- Petrol, diesel, and airfares stoked price growth as the conflict in the Middle East continued to disrupt global oil supplies during the summer travel season.
- Core inflation held at 2.6% for a fourth consecutive month in August, The Office for National Statistics reported, while services inflation remained unchanged at 3.4%.
- Despite rising price pressures, the Bank of England is expected to keep interest rates on hold at 3.75% when it meets on Thursday.
- Goldman Sachs expects headline inflation to peak at 3.9% in early 2027, pushing further away from the Bank of England's 2% target amid longer-term inflation concerns.
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Inflation inches higher ahead of interest rates decision
Inflation inched higher in the year to August, official data has shown, adding to pressures faced by the Bank of England ahead of its interest rate decision on Thursday. The Office for National Statistics (ONS) said consumer price index (CPI) inflation in the 12 months to August was 3.1 per cent, higher than last month’s [...]
·London, United Kingdom
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Belfast TelegraphReposted by 
perspectivemedia.com
perspectivemedia.comInflation increases to 3.1% after jump in petrol prices
·Belfast, United Kingdom
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Coverage Details
Total News Sources35
Leaning Left5Leaning Right3Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 29%
C 53%
R 18%
Factuality
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