UK in­fla­tion rate plum­met

Midweek Sport - - NEWS -

THE UK’s in­fla­tion rate dropped un­ex­pect­edly to 2.6% in June, down from 2.9% in May, of­fi­cial fig­ures have shown.

It is the first fall in the rate since Oc­to­ber 2016 and was largely down to lower petrol and diesel prices.

Fuel prices fell for the fourth month in a row in June, ac­cord­ing to the Of­fice for Na­tional Sta­tis­tics.

Economists say the fall in in­fla­tion could ease pres­sure on the Bank of Eng­land to raise in­ter­est rates.

The UK in­fla­tion rate has risen sharply since the ref­er­en­dum on mem­ber­ship of the Euro­pean Union last June, partly due to an in­crease in the cost of im­ported goods fol­low­ing the fall in the value of the pound.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.