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Original headline: What factors helped lift inflation in September – and where did prices fall ?
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inflationcost of livingUKpound sterling
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Related tickers and likely impact
GBP/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 1.33800 |
| Change that session | +0.57% |
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- Cost of living crisis deepens as fuel price surge pushes United Kingdom inflation to 10-month high of 3.5%
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.
- What factors helped lift inflation in September – and where did prices fall?
- What factors helped lift inflation in September – and where did prices fall ?
- What factors helped lift inflation in September – and where did prices fall ?
- What factors helped lift inflation in September – and where did prices fall ?
- UK Faces Christmas Interest Rate - Hike Double Whammy Amid Inflation Surge
Nigel Green, CEO of deVere Group, expects the Bank of England to raise rates twice before Christmas as inflation spreads from petrol into services. UK inflation rose to 3.5% in September from 3.1% in August, above the 3.4% economists expected and marking a third straight monthly rise. Motor fuel prices climbed 29.8% year on year, while services inflation reached 3.7% and core inflation 2.8%, both beating forecasts. With UK inflation now above France (3.4%) and Germany (3.3%), real wages have stalled and unemployment is around 5%, so households face higher mortgage costs on top of energy bills.
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