Summary
INFLATION unexpectedly fell last month as retailers cut prices in response to the tightening squeeze on household incomes, figures revealed yesterday.
Reductions in the prices of digital cameras, televisions and women's shoes prompted a fall in the Consumer Prices Index (CPI) to an annual rate of 4.2% in June, the Office of National Statistics (ONS) said, against consensus City forecasts of no change from May's figure of 4.5%.See the full content of this document
Extract
Retail Price Cuts Push Down Rate of Inflation
Figures from the ONS showed the price of televisions and other audio-visual products fell by 3.1% month-on-month, while camera prices tumbled by 7.4%, with th...
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