United Kingdom: Inflation ticks down in August
September 16, 2014
In August, consumer prices rose 0.4% over the previous month, which contrasted the 0.3% fall recorded in July and marked the highest increase in six months. August’s rise was mainly driven by higher prices for alcohol and tobacco as well as for clothing and footwear.
Annual inflation eased from 1.6% in July to 1.5% in August, which met market expectations. Annual average inflation inched down from July’s 2.0% to 1.9% in August, which is the lowest level since August 2005.
Author: Dirina Mançellari, Senior Economist