ONS: 'Fairly modest reduction' in inflation rate

Name: ONS: 'Fairly modest reduction' in inflation rate
Uploaded: 2013-09-17T11:52:00.000Z
Duration: 1 min 54 s
Description: The Office for National Statistics (ONS) says there has been a "fairly modest reduction" in the rate of inflation, with the consumer prices index (CPI) falling to 2.7% in the year to August, from 2.8% in July.

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The Office for National Statistics (ONS) says there has been a "fairly modest reduction" in the rate of inflation, with the consumer prices index (CPI) falling to 2.7% in the year to August, from 2.8% in July.

Richard Campbell from the ONS told BBC News the slight decrease was down to transport and clothing costs.

"Prices are 2.7% more than they were a year ago," he continued, "but earnings are only going up by 1%, so we're seeing this continuing squeeze on people's pockets."

Business

17 September 2013