Inflation Falls To 2.6%

The ONS reports that the Consumer Prices Index (CPI) 12-month rate was 2.6% in June 2017, down from 2.9% in May 2017.

This is the first fall in the CPIH inflation rate since April 2016, and was caused primarily by falling prices for motor fuels and certain recreational and cultural goods and services.

This means that there will be no increase in interest rates in the foreseeable future.