UK inflation falls to lowest in more than a year

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UK inflation has fallen to its lowest level in more than a year as price rises slowed by more than expected.

The rate fell sharply to 7.9% in June, down from 8.7% the previous month, although it remains almost four times higher than the official target.

Falling fuel prices contributed to the drop, while food prices rose less quickly than in June last year.

UK inflation is now at its lowest annual rate since March 2022, with the fall being described as "substantial".

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