News - UK Inflation Rate Falls

17th July 2007 - The UK Government's measure of inflation fell - the consumer prices index was down 0.1 per cent in June 2007 from 2.5 percent in May, the Office for National Statistics revealed today.

The retail prices index rose however, in June 2007 to 4.4 percent from 4.3 percent in May.

Mortgage interest payments accounted for most of the rise with Banks and Building Societies passing on the increasingly regular hikes in the base rate to their borrowers - Mortgages are excluded from the consumer prices index.

The retail prices index remained unchanged if mortgage interest rises were excluded

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