Britain's annual inflation rate climbed 3.1 percent in August, driven mainly by higher fuel prices as the Middle East situation continued to disrupt oil supplies, official data showed on Wednesday.
The latest figures from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) rose last month from the 2.9 percent seen in July, with transport costs up 4.6 percent year on year in August, accelerating sharply from the previous month's 3.6 percent increase as fuel became more expensive.
The ongoing tensions in the Middle East have kept oil markets on edge in recent months, which the ONS said has fed through to higher prices at the pump, lifting transport and shipping costs across the economy, and resulting in August's pickup in inflation.
The figures point to mounting price pressures ahead with the latest forecast from the Institute of Grocery Distribution (IGD), a food industry research charity, warning UK food price inflation could hit 6.6 percent next year, with the upward trend expected to persist until 2028.
UK inflation up 3.1 percent in August as fuel prices rise
