The UK inflation rate tumbled once again in July 2023, the latest Consumer Prices Index (CPI) from the Office for National Statistics (ONS) has shown.
The annual rate of price rises slowed 1.1 percentage points from 7.9% to 6.8%, with most of the drop down to a fall in gas and electricity prices. Energy bills fell significantly from 1 July when the Ofgem energy price cap superseded the government’s energy price guarantee.
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