By Joshua KirbyConsumer prices rose at an unexpectedly lower rate in the U.K. in August, increasing the chance that the Bank of England might pause its long cycle of interest-rate hike this week. The core CPI, which strips out the more volatile food and energy prices, decelerated to 6.2% on year, compared with 6.9% in July. Economists had forecast only a slight easing of the core inflation rate to 6.8%. Lower food prices were the biggest contributor to slowing inflation, the ONS said. The main measure of U.K. core inflation was 6.2% in August.

Source: Wall Street Journal September 20, 2023 06:38 UTC