UK inflation falls by less than expected to 2.3%, reducing chance of June rate cut
Drop in April is smaller than forecast but level is still lowest in almost three yearsBusiness live – latest updatesUK inflation fell to 2.3% in April – its lowest level for almost three years – but the decline was smaller than expected, denting hopes of a return to the Bank of England’s 2% target.City analysts had forecast the annual increase in the cost of goods and services would fall to 2.1%. Markets trimmed their predictions of that the Bank will cut rates by 0.25 percentage points from 5.25% as early as next month, with forecasts of reduction in August also scaled back. Continue reading...
Drop in April is smaller than forecast but level is still lowest in almost three years
UK inflation fell to 2.3% in April – its lowest level for almost three years – but the decline was smaller than expected, denting hopes of a return to the Bank of England’s 2% target.
City analysts had forecast the annual increase in the cost of goods and services would fall to 2.1%. Markets trimmed their predictions of that the Bank will cut rates by 0.25 percentage points from 5.25% as early as next month, with forecasts of reduction in August also scaled back. Continue reading...
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