UK inflation rate slows

LONDON, July 19 (AFP): Britain's annual inflation rate slowed more than expected in June as it dropped below eight per cent, official data showed Wednesday, easing the country's cost-of-living crisis.

The Consumer Prices Index rose by an annual rate of 7.9 per cent, down from 8.7 per cent in May as food price inflation eased, the Office for National Statistics said in a statement.

The CPI rate was the lowest since March 2022, while analysts' consensus forecast had been for a drop to 8.2 per cent. The UK rate remains the highest among G7 nations.