THE UK’s rate of inflation remained at 2.2% in August meaning the state pension will rise by £460 for millions next year.
The Office for National Statistics said the Consumer Price Index (CPI) measure stayed stayed at 2.2% in the 12 months to August.
1
It comes after inflation rose by 2.2% in the 12 months to July.
The latest figures confirm that the state pension will rise next year by £460 under the triple lock mechanism.
The system sees the state pension rise in line with whatever is highest out of: wages for May to July, 2.5% or September’s inflation figures.