Britain’s inflation rate dropped to the lowest in 15 months, fueling hopes among investors and economists of a shift away from the worst price spiral in the Group of Seven nations.
Official data showed that annual consumer price growth cooled sharply to 7.9% in June from 8.7% the previous month, marking the first time in five months that the headline reading came in lower than expected. Underlying pressures also retreated from their highest in three decades.
Read More : UK Inflation Dips Below 8% for First Time in Over a Year