Gasoline prices falling became a key driver! UK inflation rate unexpectedly drops to new low for a year, Bank of England has support to hold steady next week.

Wisdom Financial APP learned that, driven by the decline in gasoline prices, the UK inflation rate unexpectedly dropped to its lowest level in over a year. Data released by the UK National Statistics Office on Wednesday showed that the UK's June Consumer Price Index (CPI) rose by 2.6% year-on-year, the lowest level since March of last year, lower than the 2.8% year-on-year increase in May, and also lower than the economists' average expectation of 2.7%.