The inflation rate, measure by CPI (consumer price index) in UK has fallen to 2.4% in June compared with 2.8% in May. The RPI (retail price index) showed that housing cost fell from 3.1% to 2.8%. Transportation costs were also down by 0.5%.
This is good news as it is the 3rd consecutive month that CPI has fallen. If this trend continues then UK will see a return of growth in real disposable income. The fall in inflation rate brings UK closer to the target of 2% set by the Bank of England. The stimulus program of the Bank seems to be working as it promised, earlier this month, to inject £50bn in the economy over the next four months through QE (quantitative easing). This would bring total size of the program to £375bn
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