Inflation in UK falls more than anticipated to a 15-month low

London: Inflation in the UK has fallen by more than anticipated to a 15-month low, official figures showed on Wednesday, a development that may ease the pressure on the Bank of England to raise interest rates sharply over the coming months, to the potential relief of struggling households. The Office for National Statistics said that inflation, as measured by the consumer prices index, fell to 7.9 per cent in the year to June from 8.7 per cent the previous month.

Most economists had expected a more modest decline to 8.2 per cent. The statistics agency said the falling of fuel prices was the biggest driver behind the drop, while food price inflation also pared back, though they remained historically high.