UK inflation rises to 3.1% ahead of Bank of England rate decision
- —UK inflation in August was 3.1% versus 2.9% in July
- —Petrol prices rose 9.1 pence to 161.3 pence per litre, the highest since November 2022
- —Core inflation held at 2.6%, services inflation at 3.4%
- —Wage growth slowed to 3.5%, job vacancies fell to 702,000
Why it matters: A hawkish signal for the Bank of England amid ECB tightening and an expected Fed rate hike — pressure on risk assets, including crypto.
Source: BeInCrypto IT