Article preview: Price inflation fell sharply in the year to August, partly as a result of the government Eat Out to Help Out scheme. More than 100 million restaurant meals qualified for the 50% discount in August. The Consumer Prices Index (CPI) measure of price inflation dropped to 0.2%, its lowest level since December 2015. CPI was down from 1% a month earlier. According to the Office for National Statistics, another factor driving down price inflation was the temporary VAT cut for the hospitality sector, with VAT falling from 20% to 5%.
Goodbye, price inflation!
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This 327-word blog post explains why CPI price inflation has fallen to its lowest level in 5 years. Written on 16th September 2020.
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