UK inflation remained steady

(MENAFN) Official figures showed that the main inflation rate of the UK remained stable last month at a 5 and a half year high of 3%.

According to the Office for National Statistics (ONS), higher food prices were balanced by decreased costs of fuel, and food and alcoholic beverages increased 4.1% at a yearly rate, which is the highest since Sep. 2013.

The Consumer Prices Index (CPI) was predicted to increase, as the Bank of England forecasting it would reach its highest point at 3.2% this autumn.

The decline in the pound value after 2016's Brexit referendum was one of the reasons for the recent increase in inflation, as it has increased imported goods and services' costs.


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