LONDON, July 16: Underlying British inflation fell to a record low point of just 1.5 per cent over the year to June, against 1.8 per cent May, official figures showed on Tuesday.

Underlying prices fell by 0.1 per cent in June from the figure for May, leaving the 12-month increase well below the official target of 2.5 per cent and at the lowest level since records began in 1975, the National Statistics office said.

It was the first monthly decline since November 2001.

Headline inflation, which includes the volatile effects of home-loan repayments, fell to zero month-on-month and 1.0pc over 12 months. Analysts had forecast a 12-month underlying rate of 1.1 per cent. —AFP