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UK inflation dropped below the Bank of England target rate last month for the first time since April 2025, according to new figures. The Office for National Statistics (ONS) LONDON - UK inflation fell to the Bank of England’s (BOE) target for the first time in almost three years, supporting the case for interest-rate reductions later this year. The Inflation has hit the Bank of England's target for the first time in almost three years. Prices rose at 2% in the year to May, down from 2.3% the month before, official figures British inflation returned to its 2% target for the first time in nearly three years in May, but strong underlying price pressures all but rule out a pre-election interest rate cut. UK inflation has eased to 2% - increasing the prospect of an interest rate cut within months. The consumer prices index (CPI) rate for the year to May was confirmed by the Inflation in the U.K. returned to the Bank of England's target rate of 2% for the first time in nearly three years, official figures showed Wednesday, a development that has Data from the Office for National Statistics showed this represents a fall of 0.3 percentage points on April when inflation stood at 2.3 per cent and achieves the Bank of

UK Inflation Falls Within 2% Target for First Time in 3 Years: What it Means for You

Breaking News: UK inflation has eased to 2%, hitting the Bank of England's target for the first time in almost three years! According to new figures from the Office for National Statistics (ONS), prices rose at 2% in the year to May, down from 2.3% the month before. This marks a significant milestone, with UK inflation dropping below the Bank of England target rate last month for the first time since April 2025.

Inflation at 2%: Key Takeaways

  • Target Achieved: British inflation returned to its 2% target for the first time in nearly three years in May.
  • Data Source: The consumer prices index (CPI) rate for the year to May was confirmed by the ONS. Data from the Office for National Statistics showed this represents a fall of 0.3 percentage points on April when inflation stood at 2.3 per cent and achieves the Bank of...
  • Interest Rate Implications: UK inflation has eased to 2% - increasing the prospect of an interest rate cut within months. The ONS figures support the case for interest-rate reductions later this year.
  • Underlying Pressures: Despite the overall drop, strong underlying price pressures all but rule out a pre-election interest rate cut.

What Does This Mean For You?

The Inflation in the U.K. returned to the Bank of England's target rate of 2% for the first time in nearly three years, official figures showed Wednesday, a development that has widespread implications. While achieving the 2% target is positive news, signaling a slowing in the rate of price increases, the possibility of an interest rate cut remains uncertain. Stay tuned for updates as the Bank of England assesses the ongoing economic landscape.

LONDON - UK inflation fell to the Bank of England’s (BOE) target for the first time in almost three years. The Inflation has hit the Bank of England's target for the first time in almost three years.

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