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UK Inflation Drops to 2.6%
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NEWSDECK ANALYSIS
The UK's inflation target, set by the Bank of England, is 2%, and the current rate of 2.6% is the closest it has been to this target in recent months. The decrease in inflation is largely attributed to a decrease in petrol prices, which has helped to slow the rate of price increases. The impact of rising energy bills on future inflation rates will be closely watched, as they are expected to drive up costs in the coming months.
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Guido Fawkes
UK Inflation Drops to 2.6%
Inflation dipped to 2.6% in the twelve months to June, driven largely by a fall in petrol prices. It is not expected to stay this close to target for long. Rising energy bills will feed into next month’s data. New Chancellor John Healey is still taking a short victory lap: “We have chosen to focus…
22 Jul, 07:41