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Inflation down
Lower air fares and a fall in food prices helped push inflation down on both main measures in May. The annual rate of inflation — as measured by the Retail Prices Index (RPI) — was down to 2.4% from 2.5%.
Under the Consumer Prices Index (CPI) — the measure generally used by the government — inflation was well below the Bank of England’s 2.0% target for the sixth consecutive month as it fell to 1.5% from 1.8%.