Inflation Falls Again

The ONS has just announced that headline inflation has fallen to 2.8%.  The Consumer Prices Index (CPI) has fallen from 3% in April while the Retail Prices Index has fallen to 3% from 3.5%.

The ONS cite continuing falls in in the cost of fuel, food and commodities.  The experts were surprised by the fall, they had been expecting inflation to remain at April levels for several month.  But now they say we  can expect inflation to fall further over the summer as the effects of the VAT hike fall out of the calculations.

Source MGBA

ONS inflation data

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