A fall in air fares helped contribute to a slight reduction in the UK rate of inflation in August.
Airline fares fell by 2.1% between July and August 2023, compared with a rise of 13.4% a year ago, according to the Office for National Statistics.
The ONS, confirming that inflation fell to 6.7% last month from 6.8% in July, said: “This is only the second time that fares have fallen between July and August since the monthly collection of prices began in 2001.
“The other time was in 2020 when price movements were affected by the coronavirus pandemic.
“The fall this year partially reflects a relatively high July 2023 price which may, in turn, relate to the departure date of the flights priced and its proximity to school holiday periods.
“This year, July prices were collected for outward bound flights leaving on 18 July, whereas the departure date was 12 July last year.”
The ONS also pointed to a “downward effect” from accommodation services, where prices fell on the month this year but rose a year ago.
“Within this category, the majority of the effect was from overnight hotel accommodation, where prices are taken just before the date and can vary depending on the number of available rooms resulting in month to month volatility,” it added.