Limiting upload bandwidth in Nginx

I'm trying to limit the upload rate (bytes/second) for a downstream client connected to an Nginx proxy.

I'm managed to do this through the configuration below, but I'm not sure if this is the best solution.

http {
  server {
    listen 8086;
    proxy_http_version 1.1;
    location = / {
      proxy_pass http://some-mock-upstream:8086/;
    }
  }
}

stream {
   server {
     listen 8085;
     proxy_upload_rate 50k;
     proxy_pass 127.0.0.1:8086;
   }
}

Initially the request would arrive on port 8085 (i.e. the TCP layer 4 listener). From there it would be forwarded to port 8086 (i.e. the HTTP layer 7 listener). Even though it isn't shown above, I need the request to go through the server block under the http context because I need to update some headers.

Is there another way to limit the upload bandwidth, or is what I have above okay? Does it make sense to have an extra hop added?