Business
UK Inflation Rate Drops in June
Prices in the UK are rising at their slowest rate since the end of 2009, official figures have shown.
The annual inflation rate as measured by the Consumer Prices Index fell to 2.4% in June, from 2.8% in May, the office for National Statistics said.ce for National Sta
The rate of inflation, which indicates how fast prices are rising compared with a year earlier, is slowing due to lower food, fuel and clothing prices.
The Retail Prices Index, which includes housing costs, fell to 2.8% from 3.1%.
This is the third month in a row that CPI has fallen.
The biggest contributor to the fall from May was clothing and footwear, which was 4.2% lower. This could be due to retailers starting their summer sales earlier, the ONS said.
The price of football shirts was “a notable exception” to this downward trend, it said.
Alcohol and transport costs were down by 0.5%.
Petrol prices fell by 4.3 pence per litre on the month, to £1.33 a litre on average. Diesel was down 4.7p to an average of £1.39.
Food prices were 0.1% lower. The biggest falls seen were in meat prices, the ONS said, with reports of weather affecting demand. This could be down to the wet weather leading people to cancel summer barbecues.