The UK’s inflation rate fell slightly in August as diesel and petrol prices dropped over the month.
The Office for National Statistics (ONS) said Consumer Prices Index inflation reached 9.9% in the year to August, down from 10.1% the previous month, but still close to its 40-year record.
Experts had expected the figure to be unchanged between the two months, and there are some hopes that the soaring cost-of-living might have peaked. The ONS said the biggest downward pressure on the inflation rate was the price of motor fuels, which has been falling in recent months, with other prices such as food and clothing still rising.
