Inflation in the United Kingdom rose to a five-month high as the aftershocks of the Iran war continued to ratchet up fuel prices, official figures showed Wednesday, an increase that will pressure the Bank of England to hike interest rates again over coming months.
The Office for National Statistics said rising prices at the pump and airfares were largely behind the increase in the U.K.’s consumer prices index to 3.1% in August from 2.9% the month before. The increase moved inflation further away from the Bank of England’s 2% inflation target.
