From MoneyWeek · · 1m 10s
Inflation Expected to Rise in September
UK inflation likely to climb as Iran war disrupts global energy markets.
In brief
UK inflation likely to climb as Iran war disrupts global energy markets. September's inflation data shows rising prices driven by Iran war's impact on oil and energy costs. Originally reported by MoneyWeek.
September Inflation Data
September's inflation figures will be published on 21 October at 7am.
Inflation Rises to 3.1%
The consumer prices index rose by 3.1% in the 12 months to August 2026.
Iran War Impact
The Iran war has disrupted global energy markets, pushing up oil prices since February.
Energy Price Hikes
The Ofgem energy price cap rose by 4% on 1 October, bringing average household bills to £1,723 per year.
Future Energy Costs
Cornwall Insight expects energy bills to rise by 16% in 2027, bringing bills to £1,999.
Inflation Drivers
Fuel prices rose since February due to the Iran war, contributing to higher inflation.
Central Bank Projections
The Bank of England expects inflation to reach 3.75% in Q4 2026 before falling to 4% in early 2027.
Inflation Outlook
Most economists expect UK inflation to remain above 2% for the rest of 2026 and into 2027.
The one thing
September's inflation data shows rising prices driven by Iran war's impact on oil and energy costs.
