The CPI rose by 3.2% in the 12 months ending in August, compared to 2% in the July reading, exceeding expectations that indicated it would rise to 2.9%, recording the largest increase in the index in the series that started in January 1997, based on Monthly, the index rose by 0.7%.
The main index, excluding food and energy prices, rose to 3.1% on an annual basis, compared to 1.8% in the July reading, and better than expectations that it had indicated a rise to 2.9%.
The largest upward contribution to the inflation index in August came from the transportation sector, which rose by 0.87%, while the prices of restaurants and hotels rose by about 0.65%, and the housing and home services sector by about 0.65%, and entertainment and culture by about 0.28%.
The British pound is trading higher against the US dollar, with the beginning of trading today, Wednesday, at 1.3826 levels.
27/12/2024
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