SME NewsCurrent Inflation Rate Down
August inflation down to 1.8% – bank rate cut on the way.
Latest official figures from the Office of National Statistics (ONS) show that the Consumer Price Index which measures UK inflation fell from 1.9% in July to 1.8% in August. The decline was
largely prompted by reductions in the cost of financial services, utility bills, clothes and shoes.
The Retail Price Index (RPI), however, saw a month on month rise in August, up 0.3% to 4.1%.
It’s widely anticipated that this fall may prompt a cut in interest rates during the last quarter of 2007.
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