UK total inflation stays at 3.8% in August, however meals value development climbs for fifth month in a row – enterprise dwell | Enterprise

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Meals costs rise at quickest price since January 2024 Meals costs rose for the fifth month in a row to an annual price of 5.1%, up from 4.9% in July and the best since January.

Greens, milk, cheese and fish turned costlier, whereas bread and cereals and oil and fat turned cheaper.

Share Up to date at 02.29 EDT

Air fares rose by lower than final 12 months.

Ticket costs have been up by 2.1% between July and August, in contrast with an increase of twenty-two.2% presently final 12 months. This was because of the totally different timing of flights in relation to high school summer season holidays, significantly return flights from Europe. Final 12 months, these return flights from Europe fell through the faculty time period in July, however this 12 months they have been through the faculty holidays in July, making them costlier this 12 months.

This was offset by larger gasoline prices. The common petrol value rose by 0.3p a litre between July and August to 134.2p, in contrast with a fall of two.1p a litre final 12 months. Equally, diesel costs rose by 0.8p per litre to a mean of 142.p, in opposition to a 2.6p per litre drop final 12 months.

Share Up to date at 02.30 EDT

Rachel Reeves, the chancellor, mentioned:

I do know households are discovering it robust and that for a lot of the economic system feels caught. That’s why I’m decided to carry prices down and help people who find themselves going through larger payments.

Via our Plan for Change we're taking motion — elevating the Nationwide Dwelling Wage, extending the £3 bus fare cap, and increasing free faculty meals, to place extra money in folks’s pockets whereas we work to construct a stronger, extra steady economic system that rewards onerous work.

Share Introduction: UK inflation stayed at 3.8% in July Good morning, and welcome to our rolling protection of enterprise, the monetary markets and the world economic system.

UK inflation stayed regular final month, holding households beneath stress with petrol costs rising.

The annual price of inflation, as measured by the patron costs index, remained at 3.8% final month, the identical as in July, in keeping with the Workplace for Nationwide Statistics. This was consistent with what economists had predicted.

Air fares rose by lower than 12 months whereas costs at eating places and inns, and for petrol and diesel, have been larger.

The core price of inflation, which strips out risky vitality and meals prices, fell to three.6% in July, additionally as forecast by economists.

With rising inflationary pressures, monetary markets are extensively predicting the Financial institution of England will hold rates of interest unchanged at 4% on Thursday.

Donald Trump landed at London Stansted final night time for an unprecedented second state go to to the UK.

The US president and the primary girl, Melania Trump, touched down onboard Air Drive One forward of a sequence of occasions over the subsequent two days, together with being hosted by King Charles, army parades and a attainable flypast by the Crimson Arrows alongside British and American F-35 jets.

It comes amid criticism within the UK of Trump’s insurance policies and rhetoric, with the Cease Trump Coalition gathering for a protest in Windsor on Tuesday and the group planning one other demonstration in central London on Wednesday.

Writing within the Guardian, the London mayor Sadiq Khan accused the US president of doing greater than anybody else to “stir up divisive, far-right politics world wide lately”.

Later at the moment, the US Federal Reserve broadcasts its newest rate of interest determination. It's extensively anticipated to chop charges by 1 / 4 level to 4.25%.

The Agenda

8.30am BST: ECB president Christine Lagarde speech

10am BST: Eurozone inflation for August (remaining)

1.30pm BST: US Housing begins for August

2.45pm BST: Financial institution of Canada rate of interest determination

7pm BST: US Federal Reserve rate of interest determination (forecast: quarter-point reduce to 4.25%)

7.30pm BST: Fed press convention

Share Up to date at 02.18 EDT

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