UK inflation falls to lowest level in more than a year

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

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 target.

Falling fuel prices contributed to the drop, while food prices rose less quickly than in June last year, the Office for National Statistics said.