Martin Lewis shares ‘crucial’ news as inflation rates unexpectedly fall to lowest level in more than a year
The Independent
2023-07-19
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Inflation falling is “good news” for interest rates, Martin Lewis has said.
Figures fell to 7.9 per cent in June down from 8.7% in May, rather than a predicted 8.2 per cent.
The MoneySavingExpert founder explained that core inflation figures, which drove mortgage fixed rates to go up in June, had dropped from 7.1 per cent to 6.9 per cent, which could be a “strong signal” of “good news,” the MoneySavingExpert founder said.
It comes as the Office for National Statistics announced that the October 2022 peak was the highest annual inflation rate since 1981.
June’s rate is the lowest since March 2022.
Figures fell to 7.9 per cent in June down from 8.7% in May, rather than a predicted 8.2 per cent.
The MoneySavingExpert founder explained that core inflation figures, which drove mortgage fixed rates to go up in June, had dropped from 7.1 per cent to 6.9 per cent, which could be a “strong signal” of “good news,” the MoneySavingExpert founder said.
It comes as the Office for National Statistics announced that the October 2022 peak was the highest annual inflation rate since 1981.
June’s rate is the lowest since March 2022.
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