UK inflation fell to 2% in May, meeting Bank of England's 2% target due to reduced energy and food costs.

UK inflation fell to 2% in May, its lowest level in nearly three years, meeting the Bank of England's 2% target. This significant development for UK Prime Minister Rishi Sunak's election campaign is attributed to reduced energy and food costs, and marks a significant economic milestone. Despite this, some economists do not expect a rate cut until August, relying on further economic data and signals.

June 19, 2024
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