UK overall inflation remains at 3.8% in August, but food price growth climbs for fifth month in a row - business live

In August, the UK's overall inflation rate held steady at 3.8%, but food prices have surged for the fifth consecutive month, marking the fastest growth since January 2024. Key staples like vegetables, milk, cheese, and fish have seen significant price increases. This trend is crucial as it may influence the Bank of England's upcoming decisions on interest rates, which are expected to remain unchanged. The pound has remained stable against the dollar, reflecting cautious market sentiment amidst these inflationary pressures.