UK inflation sinks below target
Annual inflation in the United Kingdom, as measured by the change in the consumer-price index (CPI), slumped below the Bank of England's 2% target for the first time since September 2007 in June, data released on Tuesday revealed.
The data showed annual inflation fell from 2.2% in May to 1.8% last month. The retail-price measure - which includes housing costs - was -1.6%, down from -1.1% for May.
The largest downward pressure was from food and non-alcoholic drinks, while a significant downward
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