UK inflation falls to 9.9% after drop in petrol prices

Unexpected dip in August is first easing of upward pressure on cost of living in almost a year

• Analysis: Bank of England will not take foot off throttle
• Business live updates: UK inflation eases to 9.9%

Falling petrol prices pushed Britain's inflation rate back below 10% in August in the first easing of upward pressure on the cost of living in almost a year.

The consumer prices index - the government's preferred measure of inflation - dipped from 10.1% in July to 9.9% last month, with cheaper motoring costs more than offsetting the impact of dearer food.