Inflation continues to fall as earnings growth rises

Concerns remain over the effects of earnings growth and a tight labour market on inflation. Government debt exceeded 100% of GDP for the first time since 1961.

Inflation fell by more than expected in June 2023. The annual inflation rate in the UK dropped to 7.9% in June 2023 which is the lowest it has been since March 2022.

It was 8.7% in May.

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