Inflation lowest in four and a half years

June 17, 2014 1:45 PM
Originally published by UK Liberal Democrats

Inflation fell more sharply than expected in May, driven by a sharp drop in air fares and retail prices, with food prices at their lowest level in eight years.

Figures show that inflation has fallen to 1.5%, lower than it has been in nearly five years. This has marked the fifth month in a row that it was below the 2% target.

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These figures show that the Liberal Democrat plan for a stronger economy is working.

Danny Alexander commented on the good news:

"As a result of our role in Government, the Liberal Democrats have created the right climate for the recovery and the country is now getting back on the front foot.

Today's inflation figures add to a developing pattern of low inflation, strengthening growth and high levels of job creation."