Rate of inflation falls sharply

The Office for National Statistics (ONS) has announced that both rates of inflation have fallen dramatically moving closer to the Bank of England’s target rate. Inflation measured by the Consumer Prices Index (CPI) fell to 2.4% in June, compared to 2.8% in May, against a target of 2%. The Retail Prices Index (RPI) also fell, from 3.1% to 2.8% over the same period. Prices are now rising slower than at any point since late 2009, and it is the third month in a row that the rate of inflation has slowed, mirroring Bank of England expectations. The news will come as a ...

Mixed signals on UK inflation rate as one measure falls whilst another rises

The two official measures of inflation in the UK have moved in opposite directions according to the latest statistics from the Office for National Statistics (ONS). The Consumer Prices Index (CPI) rose slightly in March to 3.5% from 3.4% in February, however the Retail Prices Index (RPI) fell to 3.6% from 3.7% in the previous month. Consumer Prices Index Inflation Watch See accounts currently beating inflation Click here for accounts The small rise in the rate of CPI inflation was ...