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UK inflation latest: UK inflation falls to 2.3% in latest figures

HomeUK Politics

UK inflation latest: UK inflation falls to 2.3% in latest figures

May 22, 2024 7:16 am

UK inflation latest: UK inflation falls to 2.3% in latest figures - BBC N





UK inflation latest: UK inflation falls to 2.3% in latest figures – BBC News

























BreakingBreaking news

Summary

  1. UK inflation has fallen to 2.3% – just above the target of 2% – the lowest level in almost three years
  2. It means prices are still rising, just at a slower rate
  3. “Today marks a major moment for the economy, with inflation back to normal,” says Rishi Sunak
  4. Inflation was running at 3.2% in the year to March 2024 – that was the lowest rate since September 2021
  5. Chancellor Jeremy Hunt says prices are still “much higher” than they were a year ago but “signs encouraging”
  6. Falling inflation is expected to lead to a cut in interest rates later this year
  7. Inflation peaked at 11.1% in October 2022, its highest for 40 years – the government pledged to halve the rate in 2023



www.bbc.co.uk

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