The UK’s rate of inflation cooled in July to 2 percent, down from near three-year highs of 2.5 percent in June, but was pushed higher by petrol prices hitting highs not seen for nearly eight years.
The Office for National Statistics (ONS) said the Consumer Prices Index (CPI) is now in line with the Bank of England’s target and was reduced due to a fall in clothes prices as summer sales took place.
