22 May: April Inflation Lands Within Whisker Of BoE Target
Steep falls in gas and electricity prices helped annual inflation to fall sharply to 2.3% in the year to April, down from 3.2% a month earlier, writes Andrew Michael.
Today’s announcement from the Office of National Statistics (ONS) puts the figure at its lowest since July 2021. The Bank of England’s inflation target is 2%.
The news offers hope of an interest cut from the Bank of England as early as June this year. The decision will be announced on 20…
