Current Inflation Rate Down

August inflation down to 1.8% – bank rate cut on the way.

By News Desk
18th September 2007 at 10:47

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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