UK consumer price inflation accelerated at a record pace in August, hitting the highest rate since 2012, data from the Office for National Statistics showed Wednesday.
The consumer price index rose 3.2 percent year-on-year following a 2.0 percent climb in July. Economists had forecast 2.9 percent inflation and also remained well above the 2 percent target.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.