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Inflation remains at 3.1%
Inflation remained unchanged in August at 3.1%, according to data released by the Office for National Statistics (ONS).
Consumer Prices Index (CPI) inflation remains well above the Bank of England's 2% target and the rate remaining unchanged brings to an end a three successive months where the rate fell.
Retail Prices Index (RPI) inflation slowed to 4.7%, down from 4.8% in July.
Economists had forecast lower rates of inflation for August, with CPI expected at 2.9% and RPI at 4.6%. The Bank of England has warned that the impact of the emergency Budget's VAT rise to 20% in January will keep inflation high.
Post Date: September 14th, 2010
Consumer Prices Index (CPI) inflation remains well above the Bank of England's 2% target and the rate remaining unchanged brings to an end a three successive months where the rate fell.
Retail Prices Index (RPI) inflation slowed to 4.7%, down from 4.8% in July.
Economists had forecast lower rates of inflation for August, with CPI expected at 2.9% and RPI at 4.6%. The Bank of England has warned that the impact of the emergency Budget's VAT rise to 20% in January will keep inflation high.
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Post Date: September 14th, 2010
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