Price rises see record jump as food costs rise in August

3 years ago 33
ARTICLE AD BOX

The UK inflation rate hit 3.2% in the year to August, the biggest increase since records began in 1997, as the economy continued to reopen.

The Consumer Prices Index measure of inflation rose from 2% in July, the Office for National Statistics (ONS) said, driven by higher food costs.

The rate now exceeds the Bank of England's 2% inflation target again.

The cost of living went up less rapidly in July because of lower clothing and footwear prices.

However, the ONS urged caution in reading too much into August's price increases, which it described as "temporary".

Eating and drinking out cost more last month in comparison with August last year, when the Eat Out to Help Out Scheme was running and diners got a state-backed 50% discount on meals up to £10 each on Mondays, Tuesdays and Wednesdays.

Read Entire Article