UK inflation rises to 3.1% as motor fuel prices jump by almost a quarter

Annual increase in August comes as Bank of England prepares for decision on interest ratesBusiness live – latest updatesUK 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, driven by motor fuel prices rising by almost a quarter. Continue reading...

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