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UK inflation jumps to 3.1% in August as fuel prices rise
LONDON: Britain’s annual inflation rate climbed in line with analysts’ expectations in August, official data showed Wednesday, as the Middle East war drove up fuel prices. The Consumer Prices Index rose 3.1 percent in the 12 months to August, up from 2.9 percent the previous month, the Office for National Statistics said. Higher inflation adds pressure on Prime Minister Andy Burnham and his finance minister John Healey to ease the cost of living for households ahead of the Labour government’s budget update next month. The Bank of England is forecast to maintain its benchmark interest rate at 3...
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