Petrol and diesel price rises push UK inflation higher
Summary
UK inflation rose to 3.1% in the year ending August 2026, mainly because petrol, diesel, and airfares got more expensive. The increase in fuel prices is linked to ongoing conflict in the Middle East affecting oil supply.Key Facts
- UK inflation reached 3.1% in August 2026, up from 2.9% in July.
- Petrol and diesel prices went up due to disruptions in global oil supply caused by Middle East conflict.
- The cost of flying also increased during the important summer travel month.
- Inflation is now higher than the Bank of England’s target rate of 2%.
- The Bank of England uses interest rates to try to keep inflation under control.
- The current interest rate is 3.75%.
- The Bank of England will meet soon to decide if they should change the interest rate.
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