Consumer prices in the United Kingdom increased even more in August on a monthly basis. Prices rose by 0.7 percent on a monthly basis, after a pass on site a month earlier. The forecast for August was an increase of 0.5 percent. In the 12 months to August 2021, prices rose 3.2 percent, after a 2.0 percent increase in July. Economists predicted a 2.9 percent increase in prices.
The Bank of England still wants a 2.0 percent inflation rate.
Producer prices in the United Kingdom increased slightly less than in July on a monthly basis in August. On a monthly basis, prices rose by 0.7 percent, after a plus of 0.8 percent in July. On an annual basis, producer prices rose by 5.9 percent in August. That was 5.1 percent a month earlier.
Economists ‘ expectations were up 0.4 percent on a monthly basis and 5.4 percent on an annual basis.