Sumary of UK inflation surges to nine-year high of 3.2% in August as food and fuel prices jump:
- Prices for eating and drinking out rose in August as inflation hit 3.2%.
- Matthew Horwood/Getty Images UK inflation rose to reach its fastest pace in nine years in August, hitting 3.2% year-on-year.
- The Office for National Statistics said gains in food, restaurant and transport prices were key factors.
- Economies around the world are dealing with strong inflation, putting pressure on central banks.
- UK inflation hit a nine-year high in August as the economy reopened, with food and fuel prices climbing sharply, the country’s Office for National Statistics said Wednesday.
- Year-on-year consumer price index inflation came in at 3.2% in August, the fastest rate since March 2012, after slowing to 2% in July.
- Month-on-month, CPI inflation came in at 0.7% in August after flatlining in July, the ONS said.
- The ONS said gains in prices of food, restaurants and hotels, and transport contributed to the jump.