The Consumer Price Index (CPI), a measure of UK inflation, rose to 3.8% year-on-year in August, unchanged from the July reading expected, according to data released by the Office for National Statistics (ONS) this morning, Wednesday, September 17.
On a monthly basis, the CPI rose by 0.3% in August, compared to a rise of approximately 0.1% in July.
The core CPI, which excludes food, energy, alcohol, and tobacco prices, rose to 3.6% in August from 3.8%, below expectations (3.7%).
In detail, the annual rate of transport prices rose to 2.4% from 3.2%, and food and non-alcoholic beverage inflation rose to 5.1% from 4.9%, marking the fifth consecutive monthly increase. Services inflation rose to 4.9% from 5.2%.