Reported about 1 month ago
UK inflation has dropped to 1.7% for the year ending September 2024, marking the first time it has fallen below the government's 2% target since 2021, according to the Office for National Statistics (ONS). This decrease, influenced primarily by lower airfares and petrol prices, comes after inflation peaked at 11.1% in October 2022. Expectations are building for potential interest rate cuts by the Bank of England in response to this significant decline in inflation rates.
Source: YAHOO