UK Inflation Hits 3.1% as Petrol Prices Soar

The UK's inflation rate has risen to 3.1% in the year to August, driven by soaring petrol and diesel prices.

According to data released by the Office for National Statistics (ONS), the cost of transport made the largest upward contribution to the higher inflation rate.

Prices in the transport division rose by 4.6% in the 12 months to August, with the average price of petrol increasing by 9.1 pence per litre between July and August 2026.

This rise comes after inflation hit 2.9% in July, its highest level in four months, due to higher energy prices pushed up by the conflict in the Middle East.