Bigger than forecast annual drop to 1.7% in September puts pressure on Bank of England to cut interest ratesBusiness live – latest updatesUK Inflation has fallen below 2% for the first time in three and a half years, piling further pressure on the Bank of England to cut interest rates at its meeting next month.The consumer prices index dropped sharply to 1.7% last month, down from 2.2% in August. The plunge – fuelled by lower air fares and petrol prices – beat City economists’ forecast of a fall to 1.9%. Continue reading…
Source link : https://www.theguardian.com/business/2024/oct/16/uk-inflation-bank-of-england-interest-rates
Author : Richard Partington Economics correspondent
Publish date : 2024-10-16 06:57:48
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UK inflation falls below 2% for first time in three and a half years
