UK Inflation falls to 1.6%

Inflation fell less than expected in August to 1.6 per cent after rising fuel off set a decline in utility and food bills.

The Consumer Prices Index (CPI) measure of inflation – the labour Government’s preferred measure – fell from 1.8 per cent in July and below the 1.4 per cent expected by analysts.

Retail Prices Index (RPI) deflation which includes mortgage interest payments and is used as a measure for workers’ pay deals, rose to minus 1.3 per cent in August from minus 1.4 per cent in July.

Steep rises in food and fuel prices pushed CPI to a peak of 5.2 per cent last September. Price falls since then have seen the figure fall steeply.

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