New official data reveals that UK inflation slowed in June, offering some relief to households as summer sales brought down clothing prices and food costs stabilised.
The latest figures from the Office for National Statistics (ONS) indicate that the Consumer Prices Index (CPI) rose at a slightly slower pace compared to previous months, with retailers' discounting strategies playing a key role.
Summer Sales Drive Down Clothing Costs
High street and online retailers slashed prices on summer fashion, contributing significantly to the easing of inflation. Shoppers benefited from widespread promotions, particularly in apparel and footwear.
Food Prices Hold Steady
After months of sharp increases, food price inflation showed signs of levelling off in June. While still elevated compared to historical averages, the rate of growth slowed for many staple items.
What This Means for Households
The modest slowdown in inflation provides some breathing space for consumers grappling with the ongoing cost of living crisis. However, economists warn that certain sectors continue to face upward price pressures.
Economic Implications
This latest inflation data will be closely scrutinised by policymakers at the Bank of England as they consider future interest rate decisions. The figures suggest some moderation in price rises but don't yet indicate a return to target inflation levels.
