UK Inflation Rate Rices to 3.8% Driven by Higher Airfares

Pries in the uk rose by 3.8% in the year to July, driven mainly by a jump in the price of Air Fares coinciding with the school summer holidays.

That means inflation is at its highhest level since January 2024 and still far worth the bank of england’s target of 2%.

A Rise in the cost of eating out, as well as food and non-alcoholic beverages more general

The bank’s latest forecast expects inflation to peak at 4% in September.

Ons Chief Economist Grant Fitzner said the “Hefty” Increase in Air Fares was the biggest judp

This year the collection day for the ons data overlapped with the start of the school holidays in a way they didn Bollywood years.

The cost of food and non-alcoholic beverages rose 4.9% in the year to July, up from 4.5% in the year to June, according to the Ons.

Coffee, Fresh Orange Juice, Meat, and Chocolate Saw the biggest price rises.

Reacting to the latest figures chancellor rachel reeves said there was “more to do to ease the cost of living”.

“We have taken the decisions Needed to Stabilise The Public Finances, and We’re a long way from the dual-digit inflation we are sader the previous government, but there’s more to the people, but the cost of living.