Economists expect UK inflation to head back to zero

Pressure eases on Bank of England to raise interest rates, and early summer discounting on high street could push prices lower than a year ago

Summer clothing sales are expected to have pulled UK inflation back down to zero last month, bringing more relief to households and taking pressure off the Bank of England to raise interest rates any time soon.

Economists expect official figures published on Tuesday morning to show inflation on the consumer price index (CPI) measure dipping back to zero in June, from 0.1% in May. Some economists in a Reuters poll forecast prices could even be down on a year earlier, especially if there was widespread and early summer discounting on the high street.

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