There has been a change in shop price inflation since the beginning of June. In May the inflation rate was 0.6% and through June dropped to 0.2%.
The sudden ease in prices has also affected fuels prices. With these prices lowering, the industries are looking at the lowest rate since October 2021.
However, even with the lowering costs, families across the UK are still unable to afford necessities. This highlights the severity of the high current costs that UK citizens are facing.
As supermarkets drop their prices of everyday products, that includes butter and coffee. The UK Inflation have switched their goal back to 2% after it lowered to 2.5% in June.
Simon Williams, the head of policy ay RAC has said, “While it’s good news prices at the pumps have fallen for the second month in a row, this also leaves a bad taste in the month because we know drivers in Great Britain are continuing to get a raw deal as both petrol and diesel are still much more expensive than in Northern Ireland.”
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