Member Article

UK inflation at lowest since November 2009

According to the Consumer Price Index (CPI) the cost of living fell sharply to 2.4% in June, the lowest level for 31 months.

The Office for National Statistics said the CPI fell 0.4% between May and June mainly due to the falling prices of clothing, footwear and fuel. Clothing and footwear prices fell 4.2%, and fuel prices fell for the second successive month.

Chloe Smith, Economic Secretary to the Treasury, said: “Inflation has more than halved since September, meaning a little less pressure on family budgets. This lower inflation should support high street spending and growth in the economy in the months to come.”

This was posted in Bdaily's Members' News section by Yu-Chih Lin .