By politics.co.uk staff
There was good news for the government today as inflation rates in the UK dropped to their lowest level for two and a half years.
With the price of food and fuel falling substantially, the reduction will relieve family budgets and help improve government popularity following a heavily criticised budget.
The consumer price index (CPI) stood at 2.8% in May, down 0.2% from April. The retail price index (RPI) was at 3.1%, down 0.4% from April.
The results also saved Bank of England governor Mervyn King from having to write a letter of explanation to chancellor George Osborne, a move which is triggered if inflation rates stay above three per cent or below one per cent for more than three months in a row.