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Inflation falls close to target, but could interest rate cuts be delayed?

22 May 2024

7:01 PM

22 May 2024

7:01 PM

The UK inflation rate has slowed to 2.3 per cent on the year to April, down from 3.2 per cent in March. This marks the lowest headline inflation rate in almost three years, before the unwinding of lockdowns and release of pent-up demand sent prices spiralling. The Spectator‘s Data Hub outlines the inflation saga below:

April’s slowdown is largely thanks to Ofgem’s reduction to the energy price cap, as higher energy costs fell out of the data.

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