Britain’s annual inflation rate fell more than expected in June, driven by lower fuel prices, official data showed Wednesday, in a boost to new Prime Minister Andy Burnham.
The Consumer Prices Index rose by 2.6 percent in the 12 months to June, down from 2.8 percent in May, the Office for National Statistics said in a statement.
Analysts’ consensus forecast had been for a slowdown to 2.7 percent last month.
Much of the fall was a result of petrol and diesel prices easing as crude prices tumbled in the wake of the ceasefire between the US and Iran.
However, analysts expect the dip to be short-lived as fresh fighting in the Middle East this month led to the collapse of a preliminary peace deal, pushing oil prices back up.
Andy Burnham, who became prime minister on Monday, has pledged to ease cost-of-living pressures, unveiling an energy tax cut on his
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