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Britain's inflation rate falls to 2.4 pct in June
Last Updated(Beijing Time):2012-07-17 20:46

Britain's annual inflation rate dropped from 2.8 percent in May to 2.4 percent in June, the Office for National Statistics (ONS) announced on Tuesday.

The Consumer Price Index (CPI), a major gauge for inflation, fell to 2.4 percent in June, the lowest point since November 2009 and a drop for three successive months.

The ONS said clothing and footwear, which plunged 4.2 percent in the month, were the main drivers behind the fall in inflation.

It cited anecdotal evidence that shops were holding summer sales in June rather than July in a bid to boost business, as wet weather conditions kept shoppers at home.

The CPI meanwhile dipped by 0.4 percent in June on a month-on-month basis, according to the ONS.

The retail prices index, which includes housing costs, fell to 2.8 percent in June, lower than the 3.1 percent in the previous month.

The ONS releasedd early this month the the Producer Price Index (PPI), a main gauge of inflation at the wholesale level, which fell by 0.4 percent in June. This is the largest monthly fall since November 2008.

The main contributors to the index fall in June were petroleum products, chemical and pharmaceutical products as well as clothing, textile and leather products.

Source:Xinhua 
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