{"id":626188,"date":"2026-09-16T07:34:12","date_gmt":"2026-09-16T07:34:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/626188\/"},"modified":"2026-09-16T07:34:12","modified_gmt":"2026-09-16T07:34:12","slug":"petrol-and-diesel-price-rises-push-uk-inflation-rate-up-to-3-1","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/626188\/","title":{"rendered":"Petrol and diesel price rises push UK inflation rate up to 3.1%"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/static.files.bbci.co.uk\/core\/website\/assets\/static\/news\/incident-types\/light-mode\/analysis.77b314ef10.svg\" alt=\"Analysis\" height=\"2.5rem\" width=\"9.8125rem\" draggable=\"false\" class=\"ssrcss-h608ny-ContributorImageComponent e2hr5uu0\"\/>Impact of prolonged Iran war filtering into people&#8217;s walletspublished at 08:03 BST<\/p>\n<p>08:03 BST<\/p>\n<p class=\"ssrcss-1l98ssq-Contributor etflsgg2\"><img decoding=\"async\" alt=\"\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/09\/7bbc638d-c11c-479b-90b5-cdbf75037c87.jpg.webp\" width=\"64\" height=\"64\" class=\"ssrcss-egie1y-Image edrdn950\"\/>Faisal Islam<br \/>Economics editor<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">While it is not a surprise inflation has accelerated given the renewed pressure on energy prices, it is a sign of further price pressures to come. The impact of a prolonged Iran war is filtering back into people\u2019s wallets.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Inflation rose to 3.1% in the year to August, driven mainly by increases in prices at the pump for petrol and diesel as well as air fares last month.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Since then, oil and gas prices have accelerated further as tensions between Iran and the US intensify, and petrol and diesel prices have risen even further. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">With the domestic energy price cap also set to rise further next month, this rise is a sign of what is to come in the coming months.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The rise takes the inflation rate above other major European countries, and will continue the pressure on the Bank of England to raise interest rates to limit the spread of inflationary pressures.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Measures of underlying inflation, for example in the service sector, remained stable. Food price inflation also remained at recent lows. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Bank makes its next decision on interest rates tomorrow, and while it is  forecast to keep rates at 3.75% for now, it is expected by markets to raise rates in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"Impact of prolonged Iran war filtering into people&#8217;s walletspublished at 08:03 BST 08:03 BST Faisal IslamEconomics editor While&hellip;\n","protected":false},"author":2,"featured_media":626189,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-626188","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/626188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=626188"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/626188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/626189"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=626188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=626188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=626188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}