CPI falls from June
Inflation fell in July, following cuts in the prices of furniture, footwear and clothing, according to the latest figures from the Office of National Statistics (ONS).

The Consumer Price Index (CPI) fell to 2.4 per cent from 2.5 per cent in June. The rate remains above the Government's target of 2 per cent.

According to the ONS, special offers on household equipment and the cost of routine maintenance had the largest downward effect on inflation.

Clothing and footwear sales and a fall in transport costs also had a significant influence.

A small downward pull came from food and non-alcoholic beverages, as the cost of milk and meat rose and fruit prices fell, but at a slower rate than a year ago.

The Retail Prices Index (RPI) remained unchanged at 3.3 per cent.

The UK inflation rate is broadly in line with the rest of the European Union. The provisional inflation rate for the EU was 2.4 per cent in June, compared to 2.5 per cent in the UK.

The CPI and RPI measure the average change in price of around 650 products and services at approximately 150 locations across the UK.

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