UK Inflation Hits 2.9% as Motor Fuel Prices Rise 15.5%
Updated
Updated · BBC.com · Aug 19
UK Inflation Hits 2.9% as Motor Fuel Prices Rise 15.5%
3 articles · Updated · BBC.com · Aug 19
Summary
July CPI inflation climbed to 2.9% from 2.6% in June—the highest in four months—even as annual motor fuel inflation slowed from 21.3% to 15.5%, ONS data showed.
15.5% fuel inflation still kept pressure on household costs because pump prices remained far above a year earlier, with diesel averaging 167.6p a litre versus 143.3p and petrol 152.2p versus 135.7p.
Diesel was the main reason fuel-price growth eased in July, while petrol inflation also slowed, helping limit how much higher the overall inflation rate rose.
The reading adds to broader energy-driven price pressure already pushing UK inflation further above the Bank of England's 2% target.