Economy · London, United Kingdom · October 21, 2026

UK inflation rises to 3.5% on higher fuel prices

Reported by 2 outlets · first reported Oct 21, 3:50 AM ET

UK inflation rose to 3.5% in the year to September from 3.1%, driven by petrol and diesel prices, and government borrowing was the highest for a year. The figures come before Chancellor John Healey's Budget on October 28.

Why it matters

CNBC reported the data reinforced expectations of a Bank of England rate rise.

Background

Energy costs have risen sharply this year because of the Gulf conflict. The Bank of England targets 2% inflation.

The story so far

1. Oct 21UK inflation rises to 3.5% on higher fuel prices
2. Oct 25UK budget to add £1 billion for social and affordable housing
3. Oct 26UK Budget due Oct. 28
4. Oct 27UK Budget: minimum wage rise, no extra for 18-20s
5. Oct 28UK budget: £100 energy payment, bank tax rise, more defense
6. Oct 29UK Budget freezes tax thresholds

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Sources

• BBC Business ↗Oct 21, 6:16 AM ET
• CNBC ↗Oct 21, 3:50 AM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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