New figures show that inflation has fallen to its lowest level since early 2010.
Data released by the Office for National Statistics (ONS) shows that the Consumer Prices Index (CPI) fell to 2.8% in May from 3% in April. The Retail Prices Index (RPI), which includes housing costs, also fell, this time from 3.5% in April to 3.1%.
Reasons for the fall in rate of inflation
At its peak, in September 2011, the rate of inflation rose to 5.2%, however since then it has gradually fallen, albeit with a couple of jumps back up along the way....