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UK’s CPI rises 9.9% YoY in August

UK’s CPI rises 9.9% YoY in August

Arab Finance: The UK’s consumer price index (CPI) jumped by 9.9% year-on-year (YoY) in August 2022, coming below July’s CPI of 10.1%, according to a press release issued by the Office for National Statistics (ONS) on September 13th.

Month-on-month (MoM), CPI edged up by 0.5% in August 2022 as compared to the reported monthly increase of 0.7% in August 2021.

The CPI including owner occupiers' housing costs (CPIH) increased by 8.6% YoY last August, which is lower than the CPIH recorded in July of 8.8%.

On a monthly basis, the CPIH inched up by 0.5% in August 2022, compared to the 0.6% MoM increase in August 2021.

Owner occupiers' housing costs (OOH) are the costs of housing services associated with owning, maintaining, and living in one's own home.

“The largest upward contributions to the annual CPIH inflation rate in August 2022 came from housing and household services (principally from electricity, gas and other fuels, and owner occupiers’ housing costs), transport (principally motor fuels), and food and non-alcoholic beverages,” the ONS said.

 

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