The rate of inflation in the UK has eased slightly, although prices continue to rise at almost their fastest rate in 40 years.
Inflation – a measure of price growth – eased to 9.9 per cent in August from 10.1 per cent in July, the Office for National Statistics (ONS) said.
The Bank of England has said that inflation could reach more than 13 percent this year.
The decline in the price of gasoline was the main reason for the softening of the rate of inflation.
Petrol prices fell by 14.3 percentage points per liter between July and August, while diesel prices were also discounted.
Fuel prices have risen, driven by the war in Ukraine and moves to reduce Europe’s dependence on Russian oil.
But wholesale costs fell as fears of a US recession hit oil demand.