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UK cost of living squeeze eases after record fall in diesel prices, and drop in mortgage rates – business live

The Guardian Business Thursday 02 July 2026, 06:15 UTC By Graeme Wearden 1 min read
Key Points

Rolling coverage of the latest economic and financial newsIt’s not just motor fuel prices that are falling. The average cost of a fixed-rate UK mortgage dipped again yesterday, to 5.52% for both two-year and five-year loans. “June has been a far better month for drivers on the back of the announcement of a deal between the US and Iran to end the conflict.

Rolling coverage of the latest economic and financial news

It’s not just motor fuel prices that are falling.

The average cost of a fixed-rate UK mortgage dipped again yesterday, to 5.52% for both two-year and five-year loans.

“June has been a far better month for drivers on the back of the announcement of a deal between the US and Iran to end the conflict. The price of oil has fallen dramatically and prices at the pumps have reflected that.”

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Originally published by The Guardian Business Read original →

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