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Business News

Inflation sees sharpest increase on record – ONS


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Inflation rose to 3.2% last month from 2% in July – its largest ever recorded increase – the Office for National Statistics (ONS) said.

The consumer prices index (CPI) measure of inflation for August was the highest since March 2012 – though the ONS said much of the effect was likely to be temporary.

That was because a rise in restaurant and cafe prices last month compares to a period last year when they fell due to discounts offered under the government’s “Eat out to Help out” scheme.

Transport costs also made a big impact with petrol prices – at an average 134.6p per litre – the highest since September 2013.

The increase of 1.2 percentage points between the July CPI rate and the August CPI was the biggest on records going back to 1997, the ONS said.

 Sky News

© Sky News 2021

Written by: Rother Radio News

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