UK annual inflation accelerated to 3.5 percent in September, exceeding economists' forecasts of 3.4 percent and rising from 3.1 percent in August, according to the Office for National Statistics.
The increase was driven by climbing fuel prices resulting from the conflict in the Middle East, which pushed the cost of diesel past £2 per litre. The data presents a challenge for Chancellor John Healey ahead of his upcoming budget.
More details are expected as the story develops.
Earlier reports and follow-ups on the same developing story.
U.K. inflation rose by a hotter-than-expected 3.5% in the 12 months to September, driven by the surging cost of motor fuels.
Petrol and diesel costs rise the most in four years; green light for controversial North Sea gasfield dismays environmental campaigners and a number of Labour MPs The approval of Jackdaw is an “important step” for the North Sea, according to Shell . The UK energy giant jointly owns Jackdaw operator Adura , which is headquartered in Aberdeen, together with Norway’s Equinor . This is an important step in ensuring the UK North Sea can continue to contribute to the country’s energy security and economy. Long-term energy projects depend on a competitive and stable investment environment, alongside timely and predictable regulatory decisions. Continue reading...
The AI boom is entering a more unforgiving phase, as investors question whether the billions poured into data centers will translate into sustainable profits.
Warnings about the risks of developing increasingly advanced AI systems have ramped up in recent months, amid cyberattacks from rogue AI models.
Trump says data centers should consider community "dividends" as AI financing worries grow.
The Guardian proposes emergency legislation, public control via the courts or stripping the utility company of its licence Andy Burnham has told officials to rip up their plans for how to fix Thames Water and present him with more radical options for what to do with the stricken company. Here are some ideas the prime minister is being urged to consider. Emergency legislation Continue reading...