Inflation, Bank of England, Interest rates, Business, Office for National Statistics, UK news, Economics, Monetary policy committee, Rachel Reeves, Budget, Autumn budget 2024, Politics Business | The Guardian
Surprise annual drop to 1.7% in September raises chance of interest rate cuts, increasing budget leewayUK inflation surprise opens up wriggle room for lower rates and less painful budgetSurprise fall in UK inflation badly timed for benefit recipientsInflation in the UK has fallen to its lowest level in three and a half years, giving a pre-budget boost to Rachel Reeves as expectations grow for the Bank of England to cut interest rates.Figures from the Office for National Statistics show the consumer prices index dropped sharply to 1.7%, down from 2.2% in August, in a bigger fall than anticipated in financial markets, driven by lower air fares and petrol prices. Continue reading…
Surprise annual drop to 1.7% in September raises chance of interest rate cuts, increasing budget leeway
UK inflation surprise opens up wriggle room for lower rates and less painful budgetSurprise fall in UK inflation badly timed for benefit recipients
Inflation in the UK has fallen to its lowest level in three and a half years, giving a pre-budget boost to Rachel Reeves as expectations grow for the Bank of England to cut interest rates.
Figures from the Office for National Statistics show the consumer prices index dropped sharply to 1.7%, down from 2.2% in August, in a bigger fall than anticipated in financial markets, driven by lower air fares and petrol prices.
