UK inflation falls as clothing and footwear retailers cut prices

Cheaper electronic goods also push down July rate to 2% from 2.5% in June

• Business live updates: UK inflation slows more than expected

Price cutting by clothing and footwear retailers and cheaper electronic goods helped push down the annual rate of UK inflation by more than expected last month, from 2.5% to 2%, according to official figures.

The return of the traditional summer sales after the hiatus last year caused by the coronavirus pandemic was a factor in bringing the government’s main measure of the cost of living back to its target rate, the Office for National Statistics (ONS) said.

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from The Guardian https://ift.tt/3ySYGUS