UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
UK headline inflation fell more than expected in June, with the year-on-year consumer price index falling to 7.9%.
This was down from the CPI reading of 8.7% in May. UK CPI inflation peaked last October at 11.1%. A Reuters poll of analysts had predicted headline inflation would be 8.2% in June.
Related BoE makes surprise 50bp rate increaseCentral bank to review modelling framework after repeated forecast errors
The news makes it likely the Bank of England’s monetary policy
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