UK Annual Inflation Eases In August

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Tuesday, the Office for National Statistics said British consumer price annual inflation slowed to 1.6% in August from 1.8% in July. Economists had expected annual rate to ease to 1.4%. The inflation rate stayed below the central bank's 2% target for the third straight month.

Month-on-month, consumer prices rose 0.4% in August, slightly larger than the expected 0.3% rise.

Core annual inflation that excludes energy, food, alcohol and tobacco was 1.8% in August, unchanged from last month and matched economists' expectations.

Meanwhile, the retail price index fell 1.3% year-on-year in August versus a 1.4% drop in July. Economists had also expected the index to fall 1.4% in August. Excluding mortgage interest payments, retail prices were up 1.4%, larger than the 1.2% increase in July.

Tuesday, the Office for National Statistics said British consumer price annual inflation slowed to 1.6% in August from 1.8% in July. (Market News Provided by RTTNews)