Despite the post Brexit doom mongering, UK economic data is not pointing the UK towards a cliff edge - yet!

The inflation rate that was generally expected to increase, remained unchanged, with the Office of National Statistics (ONC) announcing a 0.6% rate for the month of August. The consensus of forecasters views though is that inflation has the potential to go higher in the remaining months of 2016, with that trend following into the new year. The Bank of England's inflation target of 2% will come under threat towards the middle of 2017.

There was some evidence that dearer imports were feeding through into higher manufacturing prices, though this was not reaching the consumer as yet.

In the period, food costs and air fares were higher, balanced by falls in the price of clothes and wine.