Reported about 5 hours ago
UK inflation held steady at 3.8% in August, maintaining a 19-month high and putting pressure on households as interest rates are expected to remain unchanged. The Office for National Statistics reported that while the core inflation rate fell slightly to 3.6%, food and drink inflation rose to 5.1%. Higher prices at the supermarket have prompted calls for government action to ease the financial burden on families. Despite current inflation levels being well above the Bank of England's target of 2%, policymakers are unlikely to cut interest rates anytime soon.
Source: YAHOO