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Strong UK inflation and GBP rally
The Consumer Prices Index including owner occupiers' housing costs 12-month inflation rate was 2.7% in August 2017, up from 2.6% in July 2017.
Rising prices for clothing and motor fuels were the main contributors to the increase in the rate between July and August 2017.
Air fares also rose between July and August but the rise was smaller than between the same two months a year ago and so resulted in a partially offsetting, downward contribution.
The Consumer Prices Index (CPI) 12-month rate was 2.9% in August 2017, up from 2.6% in July 2017.
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