Headline inflation slowed again in the UK in August dipping to 6.7% y/y, the lowest level since February 2022, data released Wednesday by the Office for National Statistics showed. Services inflation, closely watched by the Bank of England, fell to 6.8%, below the 7.4% seen in July -- and below highest City expectations for a rise to 7.6%.

Core inflation was also markedly lower, driven by slower services inflation, falling to 6.2% from 6.8% in July.

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Core inflation was also markedly lower, driven by slower services inflation, falling to 6.2% from 6.8% in July.

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