UK Inflation falls to 2.6% but still above Target

Finance

UK inflation rate has fallen back from 2.9% in May to 2.6% in June. Talk was of an expected increase to 3%

What will this now mean for interest rates? I assume a rate rise is less likely, but in my opinion still needed and over due!

Sterling fell back on the news to $1.30 after rising this morning to above $1.31

Recent pro-longed pressure on oil prices helped push petrol and diesel down at the pumps – lower pump prices contributed to the decline.

FTSE 100 flirted at 7420 at 09:47 (18/07/17).

I assume Mr Mark Carney will welcome this news. Still work to be done though.

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