Surprise fall in inflation rate
The rate of inflation has fallen for the first time in more than a year, new figures from the ONS have shown.
The Consumer Prices Index (CPI) rate was 2.6% in June, down from 2.9% in May - the first fall in the rate since October 2016.
Economists had been forecasting the rate to stay at 2.9% or drop by one-tenth of a percentage point.
Jonathan Athow, deputy national statistician at the ONS, said: "Today's fall in inflation is mainly due to drops in petrol and diesel prices. Howevever, the rate remains higher than in the... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
