A catwalk show by the British designer Julien Macdonald last week. The consumer prices index of inflation jumped from 2.6 per cent in July to 2.9 per cent in August, the Office for National Statistics said. Inflation has not been higher since April 2012. The pound jumped one cent against the dollar to $1.3262 and 0.77 cents against the euro to €1.1088 after the data was released as markets speculated that the Bank would raise rates. The prospect of higher rates promises more misery for households as prices rise faster than wages.

Source: The Times September 12, 2017 11:03 UTC