August 2026 – Inflation rate - Latest News
Updated: Aug 25
Source: Office of National Statistics and BBC
The inflation rate was at 3.6% up to July 2025 but has been slowly declining to 2.9% for July of this year. This remains stubbornly still above the target of 2% and on par with previous months but continues the downward trend from highs of 11.1% in October 2022. The main contributing factors for the surge in recent years have been mostly down to the aftermath of the COVID-19 Pandemic, the wars in Ukraine and the Middle East and the knock on effects to the overall supply chain plus the short lived premiership of Liz Truss as Prime Minister.
The UK initially lagged behind many of it’s other counterparts in the West in being slower to tackle high inflation but things appear to be going in the right direction now although many households are feeling the effects of the cost of living crisis which has been a result of high inflationary pressures.
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