Bank of England will not take foot off throttle despite drop in inflation

MPC members will look at other developments in UK and abroad in mission to increase interest rates

• UK inflation falls to 9.9% after drop in petrol prices
• Business live updates: UK inflation eases to 9.9%

The drop in inflation from 10.1% in July to 9.9% last month is not going to trouble the Bank of England's policymakers when they meet next week to set interest rates. Its monetary policy committee (MPC) is on a mission to increase the cost of borrowing to bring down inflation to 2%. Prices growth that sticks at almost 10% is still too high. One month's figures are not a trend.

The nine MPC members will also ponder several other developments at home and abroad that can be considered reasons to increase interest rates.