Inflation is expected to stay at 3.8 per cent or even rise slightly to 3.9 per cent when the latest figures are released by the Office for National Statistics (ONS) on Wednesday.

The consumer prices index (CPI) measure of inflation has sat well above the Bank of England’s target level of 2 per cent for several months.

The figure for the year to July stood at 3.8 per cent and economists say higher food prices could nudge August’s number up slightly, though lower airfares may ensure it stays at its current level.

September’s CPI figure, released next month, is expected to be even higher and could breach the 4 per cent mark.

The last time inflation stood at 4 per cent was in January 2024.

Wednesday’s figures come a day before the Bank of England unveils their latest interest rate de

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