date:Sep 25, 2023
The UK is experiencing an unexpected decline in inflation, with the Consumer Prices Index (CPI) falling to 6.7% in August while standing at 6.8% in July. The sudden fall eases the strain of grocery expenses on consumers, but still leaves inflation over three times above the UKs target of 2%.
UK inflation is at its lowest since the period of Russias invasion of Ukraine in February last year, which raised food and oil costs.
Chancellor Jeremy Hunt pointed out that inflation never falls in a stra