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Figures from the Office for National Statistics (ONS) show that the consumer prices index (CPI) stood at 1.8 per cent during June, having decreased from 2.2 per cent in May, something that may interest those trading on the stock market.
This means that CPI has now fallen every month bar once since September 2008 and is at its lowest level since the same month in 2007.
Falling prices of food and non-alcoholic drinks were a factor in the decrease, the ONS said.
Capital Economics' Jonathan Loynes told Reuters that the news "should help ease concerns that inflation is proving to be significantly more stubborn in the UK than in some other countries".
The Bank of England announced earlier this month that it is holding interest rates at a record low of 0.5 per cent during July.
