FILE - Christmas lights are displayed on Regent Street in London on Nov. 24, 2022. The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices, official figures showed Wednesday, Aug. 16, 2023, a welcome development for hard-pressed households struggling during the cost of living crisis. (AP Photo/Kin Cheung, File)
August 20, 2023
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August 20, 2023 midnight
UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise
The Office for National Statistics said the annual rate of inflation, as measured by the consumer price index, was 6.8% in July, its lowest level since February 2022, the month Russia invaded Ukraine and sent energy prices surging.