Bri­tain’s in­fla­tion rate falls back to zero per­cent

Asian Journal - - World -

Lon­don: Bri­tain’s in­fla­tion rate fell to zero per­cent in Au­gust, down from 0.1 per­cent in July due to cheaper fuel prices, the Of­fice for Na­tional Sta­tis­tics (ONS) said. Oil prices hit a sharp fall of around $42.50 per bar­rel in late Au­gust, and wit­nessed a six-and-half years’ low, Xin­hua re­ported. The rate of core in­fla­tion -which strips out the im­pact of changes in the price of energy, food, al­co­holic drinks and to­bacco -- fell to 1.0 per­cent in Au­gust from the pre­vi­ous rate of 1.2 per­cent. In­fla­tion, as mea­sured by the Con­sumer Prices In­dex (CPI), was un­changed in the year to Au­gust 2015. It is a 12-month rate of 0.0 per­cent, down from 0.1 per­cent in the year to July 2015. In the year to Au­gust 2015, food prices fell by 2.8 per­cent and prices of mo­tor fu­els fell by 12.9 per­cent. These two groups have pro­vided some of the largest down­ward con­tri­bu­tions to the 12-month rate dur­ing 2015.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.