Inflation level defies forecasts and remains stable for third month running
Inflation remained at 2.4% in June, for the third month running, confounding expectations of a rise to 2.6%, the Office for National Statistics revealed today.
Summer sales are believed to have weighed on inflation levels, after clothing prices, particularly on men's fashion, were cut.
This means that wages remain above inflation, despite pay growth slowing to 2.7%.
The pound fell against the dollar following the surprise reading, slipping 0.60% to $1.3037.
Laura Suter, personal finance analyst at Manchester investment pla... 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...