Inflation continues to rise in the UK but is now ahead of expectations.
Headline UK CPI grew 0.7 percent in August, faster than expectations of 0.5 percent and higher than the previous reading of 0.0 percent.
On an annual basis, inflation rose 3.2 percent, compared with the 2.9 percent predicted.
Removing volatile items like food and energy, August core inflation rose 3.1 percent year-on-year, up from 1.8 percent in July.
Sam Pham, an investment strategist at Tilney Smith & Williamson, noted that core inflation has been above the Bank of England’s target three out of the last four months.
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