Prices in the US rose 3.4% in the 12 months to August, according to the latest official report on inflation.

O'Leary has said airline passengers "can't afford to fly with the high-fare rapists around Europe".

Consumer group Which? has called the sale of jack mackerel, a cheaper, less nutritious species of fish, an example of "skimpflation".

As countries grapple with energy costs pushing up inflation, this month will see how central banks respond.

The economy expanded by 0.4%, official figures show, whereas analysts had predicted no growth.