Inflation falls to 7.9% in greater than anticipated drop

The price of worth rises has dropped to 7.9% within the yr as much as June, in accordance with the Office for National Statistics (ONS).

The client worth index measure of inflation reveals costs are nonetheless rising, simply at a slower tempo than earlier than, as the speed fell from 8.7% within the yr to May.

Another measure of inflation, carefully watched by the Bank of England when deciding whether or not to extend rates of interest, additionally fell.

Core inflation – the speed of worth rises that excludes meals and gas – dropped to six.9%. The price had been rising since January this yr.