Inflation down slightly

Under the Retail Prices Index (RPI), inflation was down to 5.0% in June from 5.1% in May. Inflation under the Consumer Prices Index (CPI) also fell to 3.2% in June against 3.4% the previous month. However, this measure does not include housing costs.

This is still well above the 2% target set by the Treasury for the Bank of England.