UK consumer price inflation returned above 3% in August, reaching 3.1% from 2.9% in July, driven by a near-25% annual surge in motor fuel prices linked to the Iran war. The increase adds pressure on households and complicates the Bank of England’s upcoming interest rate decision.
It ends the way it always does. The Bank holds rates or nudges them up, mortgage holders bleed, wages quietly lose the race, and fuel stays expensive because nobody’s ending that war. Then in a few months we get another “unexpected” uptick and the same grave faces on the news. Nothing gets fixed. The bill just moves to your kitchen table.