UK inflation unexpectedly falls to 6.7% in August

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Europe

UK inflation unexpectedly falls to 6.7% in August

UK inflation came in lower than expected in August, falling for a third straight month. Consumer prices fell to 6-point-7 percent-- the lowest level in 18 months, due to a slowdown in food inflation and a decline in accommodation services. On a monthly basis, headline CPI rose by 0.3 percent. It comes despite a sharp rise in fuel costs over the month. The surprise drop in UK inflation pushed down the value of the pound against us dollar and euro in early trading. as traders bet the Bank of England is nearing the end of its hiking cycle.