THE UK’s rate of inflation remained unchanged in June, according to fresh figures from the Office for National Statistics (ONS).
Consumer Prices Index (CPI) inflation stood at 2% last month, the ONS revealed.
1
It comes after inflation fell to 2% in May, hitting the Bank of England’s (BoE) target.
Inflation is a measure of how much the prices of everyday goods such as food and clothes, and services such as train tickets and haircuts, have increased compared to a year earlier.
It’s important to note when inflation falls that doesn’t mean prices have stopped rising, they are just increasing at a slower pace.
The BoE will be watching today’s figures closely as it decides whether to lower its base rate next month.
It offers hope to mortgage holders and prospective buyers that interest rates could come down sooner rather than later.
Interest rates current sit at a 16-year high of 5.25%.