Soaring motor fuel costs have pushed UK inflation to a five-month high in August
Full story: UK inflation rises to 3.1% as motor fuel prices jump by almost a quarter
Worryingly, the cost of goods produced by UK factories rose at a faster rate in August too.
Producer output prices – or the cost of goods at the ‘factory gate’ - rose by 3.7% in the year to August, up from 3.3% in July.
“Rising crude oil and petrol prices increased both the annual cost of raw materials and the price of goods leaving factories respectively.”
