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UK inflation rate rises to 3.1% in year to August
The rise was driven by petrol, diesel and airfares, while core inflation held at 2.6%, the Office for National Statistics said.
- 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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106 Articles
106 Articles
Inflation Rises To 3.1% As Bank Of England Mulls Next Interest Rate Move
·Jersey City, United States
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The data of the National Statistical Office show that the inflation rate in August of August accelerated to its highest level in 5 months at 3.1%, with energy prices increasing by 23%.
This figure, published this Wednesday by the National Bureau of Statistics (ONE), follows an inflation of 2.9% in July, which had represented the first acceleration since March. "Transport, in particular vehicle fuels, was the factor that contributed the most" to this increase, explained the ONE in its statement. The war in the Middle East, which has triggered the price of hydrocarbons, is beginning to "have a significant impact on British econo…
·Issy-les-Moulineaux, France
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Coverage Details
Total News Sources106
Leaning Left14Leaning Right10Center19Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 33%
C 44%
R 23%
Factuality
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