UK annual inflation rose to 3.5% in September from 3.1% in August, above analysts' expectations of 3.4% and reaching a 10-month high, according to the Office for National Statistics (ONS). The main driver was transport and motor fuel costs, with average diesel prices at their highest since July 2022 amid soaring petrol and diesel prices linked to the US-Iran war. Transport prices rose 6.6% year-on-year, up from 4.6% in August, while services inflation accelerated to 3.7% and core CPI rose to 2.8% from 2.6%. The reading comes a week before the Labour government's 28 October budget and could complicate Bank of England efforts, as the bank is widely expected to consider a rate hike at its 5 November meeting, potentially its first since 2023.
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Original headline: Cost of living crisis deepens as fuel price surge pushes united kingdom inflation to 10 - month high of 3 . 5 %
Read the original on thenews.com.pk ↗
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GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 1.33800 |
| Change that session | +0.57% |
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