Business & Finance
UK inflation reaches 3.1% as fuel and energy prices escalate
Surging motor fuel and household energy costs drove annual inflation higher in August.
The short version
- UK annual inflation climbed to 3.1% in August, driven up from 2.9% in July by rising fuel and energy costs.[BBC News · CNBC]
- Motor fuel prices surged 23% year-on-year, with average petrol prices reaching their highest point since November 2022.[BBC News · CNBC]
- Household energy expenses, including gas and electricity, increased by 6% compared to the previous year.[CNBC]
Key facts
- The UK annual inflation rate reached 3.1% in August, rising from 2.9% in July.[BBC News · CNBC]
- Motor fuel prices spiked 23% compared to August of the previous year.[BBC News · CNBC]
- Average gasoline prices climbed by 9.1 pence per liter between July and August, reaching their highest level since November 2022.[BBC News · CNBC]
- Household energy costs, including gas and electricity, rose 6% year-on-year in August.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.