Cooler inflation hands new UK PM Burnham an early boost
London street (AA)
Britain’s annual inflation rate fell more than expected in June, driven by lower fuel prices, official data showed on July 22, in a boost to new Prime Minister Andy Burnham’s cost-of-living push.
The Consumer Prices Index rose by 2.6 percent in the 12 months to June, down from 2.8 percent in May, the Office for National Statistics said in a statement.Analysts’ consensus forecast had been for a slowdown to 2.7 percent last month.
Much of the fall was a result of petrol and diesel prices easing as crude prices tumbled in the wake of a ceasefire between the United States and Iran.
