nflation slowed to its lowest for 15 months in July due to a fall in energy prices and a slowdown in food price increases, according to official figures.
The Office for National Statistics (ONS) said Consumer Prices Index inflation was 6.8% in July, down from 7.9% in June.
It is the lowest rate since February 2022.
Analysts had predicted a reading of 6.7% for the month.
ONS deputy director of prices Matthew Corder said: “Inflation slowed markedly for the second consecutive month, driven by falls in the price of gas and electricity as the reduction in the energy price cap came into effect.
“Although remaining high, food price inflation has also eased again, particularly for milk, bread and cereal.
“Core inflation was unchanged in July, with the falling cost of goods offset by higher service prices.”