Lower inflation eases pressue on real incomes - Deloitte

Ian Stewart, chief economist at Deloitte UK, has said there are signs the consumer recession is drawing to an end. Consumer Prices Index (CPI) inflation dropped to its lowest level in almost three years, and less than half the rate of a year ago. The Deloitte Consumer Tracker for Q2 2012, meanwhile, has revealed inflation has fallen from 3.6% in January to 2.4% in June - its lowest level in two years. "Amid the economic gloom the UK consumer is showing signs of life," said Stewart. "Lower inflation has reduced the squeeze on real incomes." Last week a report from the Office of Nationa...