CPI inflation showed its first rise this year in July with a 0.2 percentage point increase to 2.2%, ONS reported today.

The Bank of England's Monetary Policy Committee (MPC) has voted 5-4 to cut the bank base rate by 0.25 percentage points (0.25%) to 5% - the first cut in over four years.

CPI inflation remained at 2% in June, the same as May, the ONS reported today. 

CPI inflation continued its rapid downward trend, falling in May to the Bank of England's long-term target of 2% from 2.3% the previous month.