UK inflation stays at 2.2%, above Bank of England target

Annual rate in August unchanged as consumers reduce spending on big-ticket items

The UK’s annual inflation rate rose by 2.2% in August, matching the increase in July, hovering just above the Bank of England’s 2% target.

Figures from the Office for National Statistics (ONS) show the government’s preferred measure of the cost of living remained steady as consumers cut back spending on big-ticket items.