UK inflation rate posts biggest increase since records began
- A Reuters poll had predicted a reading of 2.9% for August.
- The index jumped 2.0% in July on an annual basis.
LONDON — The U.K.'s consumer prices index surged by 3.2% in the 12 months to August, official data showed on Wednesday, the largest ever month-on-month increase since records began in Jan. 1997.
A Reuters poll had predicted a reading of 2.9% for August. The index jumped 2.0% in July on an annual basis.
The Office for National Statistics, which published the data, noted that the surge was "likely to be a temporary change" and said the U.K. government's "Eat Out to Help Out" program last year may have accentuated the jump.
"In August 2020 many prices in restaurants and cafes were discounted because of the government's Eat …
More on: www.cnbc.com