U.K. inflation came in at 2.2% for the month of August, data from the Office for National Statistics showed Wednesday.

The Consumer Price Index (CPI) is the main measure of inflation and this shows how the prices of goods and services have changed over time - here is what it means for you

The latest reading from the Office of National Statistics means inflation remains just above the Bank of England's target of 2%. Last month, the central bank reduced its main interest rate by a quarter-point to 5%, the first cut since the onset of the pandemic.