XPS Group says UK CPI inflation rises to 3.1% in August

• XPS Pensions Group management discussed the latest UK inflation print, with year-on-year CPI rising to 3.1% in August from 2.9% in July.
• Josh Pilley said energy costs remained a key driver, citing a 13% increase in the Ofgem price cap from July 1, 2026, with a further 4% rise due in October.
• He said higher transport costs were also adding to inflation pressure.
• Pilley warned rising gilt yields could reduce the Chancellor’s fiscal headroom ahead of next month’s Budget, potentially affecting funding for cost-of-living support.
• He said defined benefit pension schemes remained above £250 billion as of Sept. 10, 2026, supported by higher gilt yields and equity markets near record highs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XPS Pensions Group plc published the original content used to generate this news brief on September 16, 2026, and is solely responsible for the information contained therein.