LONDON - Official data shows that the annual consumer price inflation rate in the United Kingdom eased to 2.5 per cent in August, down a tenth of a point from July, in line with market expectations.
The Office for National Statistics said Tuesday that month-to-month price increases were lower this year than last for furniture, household equipment and maintenance. Prices rose by 0.8 per cent from July, compared with a 2 per cent hike a year earlier.
The main upward pressure came from liquid fuels which were 7.1 per cent more expensive than in July, compared with a 3.7 per cent drop last year.
The government's official inflation target is around 2 per cent year-on-year. Consumer price inflation recently peaked at 5.2 per cent in September 2011, and has been above target every month since December 2009.
© The Canadian Press, 2012
18 Sep, 2012
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Source: http://www.globalnews.ca/Money/uk+consumer+price+inflation+rate+eases+to+25+pct+in+august+from+26+pct+in+july/6442717072/story.html
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