[ad_1]
City workers and commuters, many wearing face masks, walking towards the entrance to Liverpool Street station on Bishopsgate on May 26, 2021 in London, United Kingdom.
Mike Kemp | in pictures | Getty Images
LONDON – The UK’s consumer price index jumped 3.2% in the 12 months to August, official data showed on Wednesday, the largest monthly increase on record since the record began in January 1997.
A Reuters poll had predicted a reading of 2.9% for August. The index jumped 2.0% in July on an annual basis.
The Office for National Statistics, which released the data, noted the rise was “likely a temporary change” and said the UK government’s “Eat Out to Help Out” program last year may have stepped up. the jump.
“In August 2020, many prices at restaurants and cafes were reduced due to the government’s Eat Out to Help Out (EOHO) program, which offered customers half-price food and drink to eat or drink ( up to a value of £ 10) between Mondays and Wednesdays, ”the ONS said in its statement.
“Because the EOHO was a short-term program, the 12-month upward change in the August 2021 inflation rate will likely be temporary.”
The reading is once again above the Bank of England’s 2% target and will undoubtedly add weight to those voices calling for an end to the unprecedented stimulus policies of the pandemic era. It also comes amid rising energy prices and as the country continues to reopen after strict coronavirus shutdowns.
[ad_2]
Source link