CPI inflation falls faster than expected in June

The rate of CPI inflation came in below expectations for June, giving a welcome boost to the Bank of England, the government and consumers.

inflation
(Image credit: Getty)

It looks as if the Bank of England (BoE) is finally starting to win its battle against inflation. After hiking interest rates 13 consecutive times, the headline rate of inflation in the UK finally appears to be heading in the right direction.

The latest figures out from the Office for National Statistics (ONS) show UK annual headline CPI inflation was 7.9% in June, lower than expectations of 8.2%. That figure represents a welcome retreat from May’s reading of 8.7%, which was far higher than policymakers and economists were projecting.

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Rupert Hargreaves
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Rupert is the former deputy digital editor of MoneyWeek. He's an active investor and has always been fascinated by the world of business and investing. His style has been heavily influenced by US investors Warren Buffett and Philip Carret. He is always looking for high-quality growth opportunities trading at a reasonable price, preferring cash generative businesses with strong balance sheets over blue-sky growth stocks.

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