Clothing and footwear prices in the UK increased 4.60% in August from a year ago - the steepest rate of increase since the statistical agency began monitoring the sector in 2006. The sharp rise in clothing prices was accompanied by an increase in petrol prices and higher hotel rooms rates while food prices and air fares witnessed small dips last month. The Bank of England’s Monetary Policy Committee is scheduled to meet this week to determine whether to hike interest rates. The Central Bank will publish its decision and the minutes of the meeting on Thursday. While no policy adjustments are expected, the stronger than forecast inflation figure could force a more hawkish statement from the bank. GBPUSD was last seen trading around 1.3305, with any break above the most recent high potentially accelerating buying pressure.