By Geoffrey Smith
Investing.com -- The rate of inflation in the U.K. dropped back under 10% in August as falling fuel prices took a little of the heat out of the ongoing cost-of-living crisis.
Consumer prices rose 0.5% from July, a fraction less than the 0.6% expected, bringing the annual CPI rate down to 9.9% from 10.1%. Analysts had expected it to rise to 10.2%.
Producer price pressures also eased marginally, with input prices falling 1.2% on the month, their first decline in two years. That brought the annual rate of factory gate inflation down to 16.1% from 17.1%.
The data left the pound flat at $1.1500.