- UK inflation, measured by the Consumer Prices Index (CPI), dropped to 2.6 per cent in June, marking its lowest rate in 15 months.
- According to the Office for National Statistics, this figure is down from 2.8 per cent in May and came in below the 2.7 per cent economists had anticipated.
- The primary factors contributing to the decline were lower petrol and diesel prices, alongside a decrease in food and non-alcoholic drink prices.
- Newly appointed Chancellor John Healey said: “Falling inflation is news families want to hear, but there is much more to do to give people the breathing space they need.”
- The government, under Prime Minister Andy Burnham, has announced measures to tackle the cost of living, including making electricity bills VAT-free from October and introducing a £2 cap on bus fares from January.
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