UK inflation rises to 3.1% in August as motor fuel prices jump 23% over the year
CPI inflation rose to 3.1% in the 12 months to August, up from 2.9% in July and the second consecutive increase, with motor fuels up 23.0% on the year. With the MPC meeting on 17 September, a near-term cut becomes harder to argue and swap rates, and therefore fixed mortgage pricing, stay elevated. For buyers, the cheaper fixes many have waited for look unlikely this autumn; for sellers, it caps how far budgets stretch. Core CPI held at 2.6%, so this is energy-led rather than broad-based.
What this means for…
Buyers· 3/3
Sellers· 2/3
Wider market· 3/3
Each axis scored 1 (minor) to 3 (major). Total 8/9.
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