UK inflation hit a four-year low last month after a drops in fuel and clothing prices. The CPI measure slumped to 0.5 per cent in May, down from 0.8 per cent and the lowest level since June 2016. The CPI measure slumped to 0.5 per cent in May, down from 0.8 per cent and the lowest level since June 2016Clothing and footwear price tags fell 3.1 per cent as retailers resorted to heavy discounts amid the lockdown. Food and non-alcoholic drinks were the only element of the CPI measure that went up in the 12 months to May, compared to the 12 months to April - 0.04 per cent higher. The Consumer Price Index including owner-occupiers' housing costs (CPIH) - the ONS's preferred measure of inflation - fell to 0.7 per cent in May, down from 0.9 per cent in April.

Source: Daily Mail June 17, 2020 07:00 UTC