Fuel Price Surge Pushes UK Inflation to 3.1%

UK inflation rose to 3.1% in August, up from 2.9% in July, driven by surging fuel prices and higher airfares.

The Office for National Statistics (ONS) said the increase was largely due to a 9.1 pence per litre rise in petrol prices to an average of 161.3 pence per litre, while diesel prices rose by 14.2 pence per litre to an average of 181.8 pence per litre.

Economists predict that inflation will continue to rise over the coming months due to ongoing pressure from the conflict in the Middle East and higher energy costs.