UK inflation rate: How quickly are prices rising?
Prices in the UK went up by 2.2% in the 12 months to August, the same rate as in the year to July. The Bank of England has a target to keep inflation at 2%. Inflation is the increase in the price of something over time. For example, if a bottle of milk costs £1 but is £1.05 a year later, then annual milk inflation is 5%.
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