
AI-generated summary
Inflation in the UK rose to 3.1 percent in August amid conflict in the Middle East.
The Bank of England kept its key rate at 3.75 percent. This was reported by the press service of the European country's regulator.
Following a meeting on September 16, the Monetary Policy Committee voted by a majority of six to three to maintain the bank rate. Three Council members voted to raise the bank rate by 0.25 percentage point, to 4 percent.
“The protracted conflict in the Middle East has contributed to further increases in prices for crude oil and petroleum products since the previous meeting. Prices remain more volatile and higher than before the conflict began. UK consumer price index inflation rose to 3.1 percent in August and is likely to continue rising in the coming quarters. Monetary policy is aimed at sustainably reducing inflation to 2 percent as the economy adapts to the energy shock,” the press service explained.
AI outlook — possibilities, not facts
UK inflation will continue to rise in the coming quarters
Likely · Within months

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