• Wednesday, August 10, 2022

Business

UK Inflation Climbs to six-month high in August: ONS

UK Inflation Climbs Unexpectedly in August: ONS (Photo Credit: DANIEL LEAL-OLIVAS/AFP/Getty Images).

By: Radhakrishna N S

The UK recorded a steep rise in its annual inflation rate which hit a six-month high in August unexpectedly amid higher season hike in sea, airfares, and other prices, said Office for National Statistics (ONS) in a statement on Wednesday (19). The consumer prices index (CPI) 12-month rate was 2.7 per cent in August 2018, up from 2.5 per cent recorded in the previous month. The CPI including owner occupiers’ housing costs (CPIH) annual inflation rate was 2.4 per cent in August 2018, up from 2.3 per cent registered in July, this year. Rising prices for a range of recreational and cultural goods and services, transport services and…

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