The pace of price rises in the UK dropped signficiantly in July, new figures today reveal, as inflation fell to 6.8%.
The decline was exactly in line with forecasts, and came thanks in part to lower energy prices because of the lower price cap.
Core inflation, on the other hand, remained at 6.9%, close to 30-year highs. Thhat stickiness meant the City continues to expect three more interest rate hikes from the Bank of England.
Chancellor Jeremy Hunt said: “The decisive action we’ve taken to tackle inflation is working... but we’re not at the finish line. We must stick to our plan to halve inflation this year and get it back to the 2 per cent target.”
Elsewhere, insurers Aviva and Admiral are among those posting results.
