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| UK inflation rate falls back to 0% | UK inflation rate falls back to 0% |
| (35 minutes later) | |
| The UK's inflation rate fell to 0% in August, down from July's rate of 0.1%, the Office for National Statistics (ONS) has said. | |
| Inflation, as measured by the Consumer Prices Index, fell due to a smaller rise in clothing prices from a year ago and cheaper fuel prices, the ONS said. | |
| The Retail Prices Index (RPI) measure of inflation rose to 1.1% from 1.0% in July. | |
| CPI has been almost flat for the past seven months. | |
| Inflation has failed to take off due to a sharp fall in oil prices that began last year and a continuing supermarket price war. | |
| Oil prices hit a six-and-a-half year low of around $42.50 per barrel in late August. | |
| The rate of core inflation - which strips out the impact of changes in the price of energy, food, alcoholic drinks and tobacco - fell to 1.0% in August from the previous rate of 1.2%. | |
| "With consumer price inflation flat in August and core inflation easing back to 1.0%, there is little immediate pressure on the Bank of England to start raising interest rates," said Howard Archer, chief UK and European economist at IHS Global Insight |