UK inflation falls to 2.4% in June

Tuesday, 17th July, 2012

The UK consumer prices index has fallen to 2.4% in June, according to the Office for National Statistics. The consumer prices index has fallen 0.4% from 2.8% in May. The retail prices index has fallen to 2.8% in June, down 0.3% from 3.1% in May. UK inflation has fallen markedly since its high in September 2011, but still remains well above the Bank of England’s 2% target. CPI reached a record high of 5.2% in September 2011 while RPI stood at 5.8% in September 2011, its highest point since June 1991. The continued falls came to end last month when CPI rose from slightly to stand at 3.5%. The largest downward pressures on CPI came from clothing & footwear, transport and food & non-alcoholic beverages, while upward pressures came from recreation & culture. The largest downward pressures on RPI came from motor fuels, food as well as clothing & footwear. Leisure goods and housing provided upward pressures for RPI.