Investing.com - Consumer price inflation in the U.K. slowed in line with expectations in August, falling to a three-month low, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said the rate of consumer price inflation slowed to a seasonally adjusted 1.5% last month from 1.6% in July.
Month-over-month, consumer price inflation inched up 0.4% in August, in line with forecasts.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a seasonally adjusted rate of 1.9% last month, up from 1.8% in July. Analysts had expected core prices to rise 1.8% in August.
The retail price index increased 2.4% in August, meeting expectations and down from 2.5% in July.
The data also showed that the house prices index climbed 11.7% in July, compared to forecasts for a reading of 10.6% and following a 10.2% increase in June.
GBP/USD was trading at 1.6173 from around 1.6170 ahead of the release of the data, while EUR/GBP was at 0.8003 from 0.8004 earlier.
Meanwhile, European stock markets remained broadly lower. London’s FTSE 100 shed 0.3%, the DJ Euro Stoxx 50 fell 0.5%, France's CAC 40 dipped 0.6%, while Germany's DAX declined 0.45%.