Inflation falls lower than expected

Inflation falls to 1.6% from 1.9%

Inflation falls to 1.6% from 1.9%

First published in Business News The Northern Echo: Photograph of the Author by

THE inflation rate fell more than expected in July as the cost of clothing, footwear, food and non-alcoholic drinks eased back in the month.

The Office for National Statistics said Consumer Price Index (CPI) inflation fell to 1.6% from 1.9% a month earlier.

But CPI remains well above average wages which grew by just 0.6% in the three months to June.

Economists had expected inflation to fall to 1.8% in July.

Comments (1)

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11:26am Wed 20 Aug 14

Galathumpian says...

Remarkable that the CPI index is used to estimate GDP growth, but the much higher figure of RPI is used when it suits, like to increase rail fares.
Remarkable that the CPI index is used to estimate GDP growth, but the much higher figure of RPI is used when it suits, like to increase rail fares. Galathumpian
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