British annual inflation steady at 2.7% according to official data


AFP

LONDON–British annual inflation stood at 2.7 percent in September, unchanged from the level in August, official data showed on Tuesday. “The Consumer Prices Index (CPI) grew by 2.7 percent in the year to September 2013, unchanged from August,” the Office for National Statistics said in a statement. Inflation grew by 0.4 percent in September on a month-on-month basis.

The Bank of England’s main task is to use monetary policy as a tool to keep annual inflation close to a government-set target level of 2.0 percent, in order to preserve the value of money.