New figures out today from the Office of National Statistics (ONS) show that the rate of inflation fell slightly in August.
The Consumer Prices Index (CPI) fell to 2.5% in August, from 2.6% in July, whereas the Retail Prices Index (RPI), which includes housing costs, fell from 3.2% to 2.9%.
The ONS said that falling clothing prices, and reductions in the cost of household goods, helped to contribute to the slowdown, although petrol and rail fares have risen.
Rate of inflation falling
Today’s figures form part of a trend of falling inflation, with only two months out of the past 12 showing an increase.