date:Sep 20, 2013
om July and increased 2.3 percent from the same month a year ago.
While the outlook for the economy is improving, consumers may remain under pressure as inflation running at 2.7 percent outpaces wages, which grew an annual 1 percent in the three months through July. The BOE said an increase in oil prices may add to upward pressure on inflation in the near term.
The report showed that the annual retail-sales deflator, a measure of changes in shop prices, fell to 1.6 percent in August from July.