'Eat Out to Help Out' scheme pushes UK inflation to near five-year low

A hefty drop in meal prices, spurred by Britain’s scheme to support the hospitality sector through the COVID-19 pandemic, helped to push inflation down last month to its lowest rate in almost five years. Consumer prices rose by 0.2% in annual terms in August, the smallest increase since December 2015 and a sharp slowdown from July’s 1.0% increase, the Office for National Statistics (ONS) said on Wednesday. A Reuters poll of economists had pointed to a reading of 0.0%. Discounts for more than 100 million meals were claimed Last month through the government’s “Eat Out to Help Out” programme, which offered diners a state-funded price reduction of up to 10 pounds ($12.89).