with fuel, food and energy prices soaring for months and July’s hike to 10.1 per cent pushing inflation to its highest since 1982.
Economists polled by Reuters had forecast that today’s inflation rate would rise to 10.2 per cent, while other experts had expected the figure to be unchanged between the two months. The lower price of fuel was the main reason for the fall in the annual rate of inflation, the ONS said.have been soaring this year, but petrol prices fell by 14.3p per litre between July and August, with diesel prices also falling.
The 6.8 per cent drop in fuel prices was the highest since between March and April 2020, the early days of the Covid pandemic, when oil prices briefly went negative on some markets.
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