Inflation in the UK accelerated from 2.5% to 2.7% in August

In the UK in August, the maximum increase in consumer prices in annual terms since February was recorded. According to the Office for National Statistics, prices in the previous months increased by 2.7% compared to the same month last year. Thus, annual inflation accelerated relative to a 2.5% rise in prices in July, keeping the level above the target of 2% of the Bank of England since January 2017. Analysts had expected inflation at 2.4%. Compared to the previous month, consumer prices rose by 0.7%, with an expected rise of 0.5%. Transport services grew in annual terms by 6.1%, food products – by 2.5%, tobacco products and alcohol – by 4.1%, clothing and footwear – by 0.3%. Excluding the price of energy, food, alcohol and tobacco, prices increased 2.1% after rising by 1.9% in July.

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