Rate of inflation eases slightly to 6.7% despite oil prices surging

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The rate of inflation has eased slightly to 6.7% confounding the predictions of economists that it would rise.

The Office for National Statistics (ONS) said the Consumer Prices Index (CPI) measure slowed in the 12 months to August, from the 6.8% figure reported the previous month, thanks to food rising at a weaker pace during the month compared to August 2022.

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Read more here: https://news.sky.com/story/inflation-figures-may-shift-dynamic-in-cost-of-living-crisis-but-rate-rise-still-likely-12965397

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