United Kingdom: Inflation holds steady in August
Latest reading: Inflation held steady at July’s 2.2% in August, in line with market expectations and only slightly above the Bank of England’s 2.0% target. In the month, higher price pressures for transport were offset by lower price pressures for housing and food.
The trend pointed down, with annual average inflation coming in at 3.4% in August (July: 3.7%). Meanwhile, core inflation rose to 3.6% in August from July’s 3.3%.
Finally, consumer prices increased 0.32% from the previous month in August, swinging from the 0.18% drop logged in July.