The rate of inflation in the UK eased in June to an annualized rate of 4.2 percent. Analysts had predicted the rate to remain the same as the previous month at 4.5 percent.
The unexpected decline can be partly explained by an aggressive wave of price discounting as merchants desperately try to lure shoppers back into the shops. This was reflected in the Retail Prices Index which fell from 5.2 percent to 5.0 percent and while retail prices were down, food prices continue to climb jumping another 0.9 percent for the month.
Source: BBC News
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