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  • Evening Standard

    Blow to interest rate cut hopes as inflation remains above Bank of England target

    by Daniel O'Boyle and Jonathan Prynn May 22, 2024 2 minutes
    Source: ES composite

    Inflation in the UK has fallen close to the Bank of England’s 2% target, but still came in higher than expected in a blow to hopes of an interest cut this summer.

    The rate of price rises in the UK dropped to 2.3% in April, according to the Office for National Statistics (ONS). That is the lowest rate since July 2021.

    It’s still

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