17/09/2013

Inflation Drops To 2.7% In August

A new measurement of the consumer price index (CPI) has shown the UK inflation has fallen to 2.7% in the year to August, down 0.1% since July.

In the same period wages rose by 1.0%, revealing that prices are still rising faster than wages in the UK.

There was a 3.3% increase in inflation measured by the retail price index (RPI), up from 3.1% in July.

CPI is the figure used by the Bank of England when setting interest rates, while RPI is used for annual adjustments on some benefits and rail fares.

(MH/CD)

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