UK inflation rate falls
The Office for National Statistics has announced that the consumer prices index measure of annual inflation fell to 3.4% in May from 3.7% in April.
The all items retail prices index at 5.1% for the year to May was also lower than the 5.3% recorded in April.
Richard Greenwood, managing economist at the centre for economics and business research, pointed out that Inflation remains above the government target of 2.0%. He commented: "While inflation should continue to fall back through 2010 much could depend upon the strength of the global economic recovery and the demand for commodities - a stronger recovery poses dangers in terms of raw
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