Reported 10 months ago
In the UK, inflation has dropped to the Bank of England's target rate of 2% for the first time in almost three years. The governing Conservative Party sees this as evidence that their economic plan is successful ahead of the upcoming general election. However, the main opposition Labour Party argues that working people are still struggling financially due to high mortgage rates and taxes. Despite the inflation decrease, the Bank of England is unlikely to cut its main interest rate from 5.25% amid concerns over price pressures and wage increases.
Source: YAHOO