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UK inflation rate stays steady at 0.6% | UK inflation rate stays steady at 0.6% |
(35 minutes later) | |
The average cost of everyday household goods and services went up by 0.6% in the year to August. | The average cost of everyday household goods and services went up by 0.6% in the year to August. |
The UK inflation rate, as measured by the Consumer Prices Index (CPI), was unchanged from July. | The UK inflation rate, as measured by the Consumer Prices Index (CPI), was unchanged from July. |
Rising food prices and air fares pushed prices higher, the Office for National Statistics said, partly offset by cheaper prices for hotel rooms. | Rising food prices and air fares pushed prices higher, the Office for National Statistics said, partly offset by cheaper prices for hotel rooms. |
Economists had forecast inflation would rise to 0.7%, predicting the cheaper pound would push prices higher. | |
ONS statistician Mike Prestwood said raw material costs had risen for the second month running, "partly due to the falling value of the pound". | |
But he added there was "little sign of this feeding through to consumer prices yet". | |
The Retail Prices Index (RPI) measure of inflation dropped to 1.8% in August from 1.9% in July. | The Retail Prices Index (RPI) measure of inflation dropped to 1.8% in August from 1.9% in July. |