Inflation & Prices
UK Inflation Rate Slips From 40-Year High With Drop in Petrol Prices
- Food and clothing prices still adding to inflationary pressure
- First decline in producer prices and raw materials since 2020
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Britain’s inflation eased from its highest rate in four decades after petrol declined, leaving the pace of price increases uncomfortably high for the Bank of England.
The Consumer Prices Index rose 9.9% from a year ago last month, slower than the 10.1% pace in July, the Office for National Statistics said Wednesday. Economists expected a reading of 10%.