UK Inflation Hits 3.1% as Energy Costs Soar
The UK's inflation rate rose to 3.1% in August, driven by surging gasoline and diesel prices.
The Office for National Statistics (ONS) reported that motor fuel costs increased by 23% year-on-year, with the average price of gasoline rising by 9.1 pence ($0.12) per liter between July and August.
Average diesel prices rose by 14.2 pence per liter in August, putting them at their highest since November 2022.