UK inflation hits 3.5% as debt tops £3tn and Jackdaw gas field approved

Briefing by News4U · First published 2026-10-22 05:35:53 UTC

UK inflation rose to 3.5% in September, driven by motor fuel costs, while government debt exceeded £3 trillion for the first time and ministers approved the Jackdaw gas field.

UK inflation rose to 3.5% in the year to September, above the 3.4% forecast and the highest rate in nearly a year, as motor fuel prices surged 29.8%. The Office for National Statistics said transport costs were the main driver, while core inflation climbed to 2.8%. [1] [2]

Total UK government debt passed £3 trillion for the first time, and borrowing is running ahead of forecasts. Chancellor John Healey faces tighter constraints ahead of next week’s Budget as higher inflation and interest costs add pressure on public finances. [3]

Sources

1. Total UK government debt hits £3tn for first time while inflation jumps to highest in nearly a year – as it happened

   The Guardian Business · 2026-10-21 06:18:47 UTC · Full text

2. What is happening to UK prices?

   BBC Business · 2026-10-21 08:35:47 UTC · Excerpt

3. Faisal Islam: Inflation and borrowing figures illustrate chancellor's Budget challenge

   BBC Business · 2026-10-21 10:20:15 UTC · Full text

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