The rate of Consumer Prices Index inflation fell to 2.6 per cent in June from 2.8 per cent in May, the Office for National Statistics said today.

Some economists think a sharp drop in petrol and diesel prices will have helped pull the overall inflation rate down to 2.4% in June, from 2.6% in May

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Newly appointed Chancellor John Healey said falling inflation is ‘news families want to hear’