Sky News
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Inflation figures: Rate of price rises falls sharply
Posted
August 16, 2023
Views
11,635
Likes
22
Comments
12
Engagement
0.29%
August 16, 2023
11,635
22
12
0.29%
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2:30Now PlayingA drop in energy costs and a slight reduction in food prices has led to inflation falling to its lowest level in 17 months.
The Office for National Statistics says the consumer price index measure of inflation was 6.8% in the year to July, down from 7.9% in June.
Chancellor Jeremy Hunt welcomed the news, but as our Business Correspondent Gurpreet Narwan explains, interest rates are still likely to rise.
#interestrates #inflation #jeremyhunt
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