UK inflation rises by more than expected to 3.5% as war drives up fuel prices

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UK annual inflation rose to 3.5% in September, exceeding forecasts, as fuel costs climbed amid conflict in the Middle East. The increase adds pressure ahead of the government's upcoming budget and raises concern that inflation could exceed 4% next year.

Increase in annual price growth in September comes amid fears rate will breach 4% next year Business live – latest updates UK inflation climbed by more than expected in September to 3.5% after a surge in prices from the conflict in the Middle East that has pushed up the cost of diesel to record levels. In a blow to John Healey before his first budget as chancellor in a week’s time, the Office for National Statistics said annual inflation rose from 3.1% in August. Economists had forecast an increase in the consumer prices index (CPI) to 3.4%. Continue reading...