Back to zero inflation: falling food and clothing prices drag rate back to 0%

Summer clothing discounts pulled UK inflation back down to zero last month, bringing more relief to households and taking pressure off the Bank of England to raise interest rates any time soon.

Britons should not fear rise in interest rates when they come, says BoE member

The Bank of England is prepared to raise interest rates “in the near future” if inflation picks up, one of its senior policymakers has warned.

Inflation in sharp rise to 1.9% in June

The rate of UK inflation rose sharply in June, pushed up by higher clothing, footwear, food and non-alcoholic drinks prices, official figures show.