UK inflation stayed steady last month, keeping households under pressure with petrol prices rising.
The annual rate of inflation, as measured by the consumer prices index, remained at 3.8% last month, the same as in July, according to the ONS. This was in line with what economists had predicted.
Air fares rose by less than last year while prices at restaurants and hotels, and for petrol and diesel, were higher.
The core rate of inflation, which strips out volatile energy and food costs, fell to 3.6% in July, also as forecast by economists.
With growing inflationary pressures, financial markets are widely predicting the Bank of England will keep interest rates unchanged at 4% on Thursday.
Donald Trump landed at London Stansted last night for an unprecedented second state visit to the UK. The president and the first lady, Melania Trump, touched down onboard Air Force One ahead of a series of events over the next two days, including being hosted by King Charles, military parades and a possible flypast by the Red Arrows alongside British and American F-35 jets.
Later today, back in America, the US Federal Reserve announces its latest interest rate decision. It is widely expected to cut rates by a quarter point to 4.25%.
Today’s key events
• 10am BST: 10am BST: eurozone inflation for August (final)
• 2.45pm BST: Bank of Canada interest rate decision
• 7pm BST: US Federal Reserve interest rate decision
We’ll be tracking all the main events throughout the day on our business live blog …
