A rise in air fares and food prices was offset by a fall in the prices of alcohol and clothes last month, keeping CPI inflation steady David Bebber for The TimesInflation remained unexpectedly unchanged in August due to cuts in alcohol prices, cheaper hotel rooms and clothing discounts, despite forecasts that the slump in the value of the pound would lead to further higher prices for everyday goods and services. The consumer prices index, used to measure the headline rate of inflation in the UK, rose by 0.6 per cent in the year to August, the same as in July, according to the Office for National Statistics. Economists had been expecting inflation to rise to 0.7 per cent. Inflation hovered around the zero mark for all of 2015 but the…

Source: The Times September 13, 2016 10:52 UTC