Reported 10 months ago
UK inflation dropped to 2.3% in April, the lowest level in nearly three years, as reported by the Office for National Statistics. This decrease, down from 3.2% in March, brings inflation closer to the Bank of England's 2% target and may prompt a rate cut from the current 5.25%. Despite this positive development, the ongoing cost of living crisis persists, with prices still rising albeit at a slower pace. The economy is showing signs of growth, following aggressive interest rate hikes by central banks globally in response to supply chain issues and geopolitical events.
Source: YAHOO