UK inflation rate falls to 7.9% in June

LONDON: British annual consumer price inflation fell to a lower than expected 7.9% in June, figures from the Office for National Statistics showed on Wednesday.

Economists polled by Reuters had forecast that the CPI rate in the 12 months to June would drop to 8.2% from May’s 8.7%, moving further away from October’s 41-year high of 11.1% but still far above the Bank of England’s 2% target.

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The BoE said in May it expected inflation in June would fall to 7.9%.