The Consumer Prices Index (CPI) in the UK fell by 0.2 per cent between June and July 2015 compared to 0.3 per cent between corresponding months a year earlier, according to the CPI July 2015 report released by the country's Office for National Statistics. The 1-month movement was therefore 0.1 percentage points higher this year compared with a year ago, resulting in a rise in the CPI 12-month rate.
The largest upward contribution to the change in the CPI 12-month rate between June and July 2015 came from clothing and footwear. Prices, overall, fell by 3.4 between June and July this year compared with a larger fall of 5.7 per cent between the same 2 months a year ago.
Prices always fall between June and July during the summer sales period. The price fall between June and July this year was in line with recent years. However, the price fall between June and July last year was larger than usual between these 2 months and followed an atypical price increase between May and June 2014. At the time there were reports of a shift in the timing of the summer sales compared with previous years. The downward contribution came from price movements across the garments sector, the report said.
