Inflation falls to 1.7%, its lowest level for nearly three years

Companies taking a wait-and-see approach to raising prices before Brexit, say economists

UK inflation fell to its lowest level in almost three years after the end of summer sales kept clothing prices down, easing pressure on consumers before the Brexit deadline.

The annual rate dipped to 1.7% in August after a 2.1% increase in July, according to the Office for National Statistics, taking inflation down to the lowest level since December 2016.