Rate hikes stall, inflation won't fall: August CPI surges again, leaving the Bank of England deep in a dilemma.

ZHITONG FINANCE APP notes that data released the day before the Bank of England announced its interest rate decision showed that UK inflation climbed for a second consecutive month due to soaring motor fuel prices. The UK Office for National Statistics said on Wednesday that the consumer price index rose 3.1% in the year to August, the highest since March and up from 2.9% the previous month.