Inflation holds steady as clothing sales offset higher energy and fuel prices
Inflation unexpectedly stalled last month as higher prices for motor fuel, gas and electricity were offset by deeper discounting by clothing retailers.
Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) rate of inflation held steady at 2.4% in June, unchanged from a month earlier.
This month the CPIH rate remained steady at 2.3%, unchanged from May 2018 https://t.co/DJND2Oxqzrpic.twitter.com/bMvGtL39Tn
-- ONS (@ONS) July 18, 2018
Economists were expecting inflation to rise to 2.6%.
ONS head of inflation Mike Hardie said: "Consumers have been feeling the benefit of the summer clothing sales, and computer game prices have also fallen.
"However, gas and electricity and petrol prices all rose, with consumers seeing the highest price at the pump for nearly four years, with inflation remaining steady overall."
Clothing and computer games prices fell while rising prices for petrol and gas and electricity provided the largest upward contributions to change in #inflationhttps://t.co/gpEP3XKt9J
-- ONS (@ONS) July 18, 2018
