19 Jun 2024

Inflation falls to Bank of England 2 per cent target

Senior Political Correspondent

Krishnan Guru-Murthy: It’s taken nearly three years, but the inflation rate has finally fallen back to the Bank of England’s target.

It fell to 2% in May, down from 2.3% in April.

But experts are warning that the Bank of England is still likely to hold fire on any interest rate cuts until after the 4th of July, meaning some electoral benefits may bypass the Tories.