U.K. inflation rate slows to 2.7% in August

Sep 17, 2013, 5:06 AM EDT

LONDON (AP) — Britain's consumer price inflation rate dropped slightly in August, to 2.7 percent from 2.8 percent the month before.

The Office for National Statistics says in a statement that the figures released Tuesday "continue the trend of broadly steady inflation seen since spring 2012."

Despite the dip in August, the rate remains well above the Bank of England's inflation target of 2 percent.

The biggest contributions to the fall in the inflation rate came from the transport sector and clothing industry, thanks to the lower cost of motor fuels and air transport.

This was partially offset by higher costs for furniture, household equipment and maintenance.