{"id":56008,"date":"2024-05-22T08:16:43","date_gmt":"2024-05-22T08:16:43","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/22\/u-k-inflation-falls-to-2-3-percent-lowest-in-three-years\/"},"modified":"2024-05-22T08:16:43","modified_gmt":"2024-05-22T08:16:43","slug":"u-k-inflation-falls-to-2-3-percent-lowest-in-three-years","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/22\/u-k-inflation-falls-to-2-3-percent-lowest-in-three-years\/","title":{"rendered":"U.K. Inflation Falls to 2.3 Percent, Lowest in Three Years"},"content":{"rendered":"
\"U.K.<\/div>


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Britain\u2019s inflation rate slowed last month to its lowest level in about three years, approaching the Bank of England\u2019s 2 percent target.<\/p>\n

Consumer prices rose 2.3 percent in April from a year earlier, down from 3.2 percent in March, the Office for National Statistics said<\/a> on Wednesday. The rate, which declined slightly less than economists expected, was the lowest since July 2021.<\/p>\n

It was pulled down by a decrease in the cap on household energy bills<\/a> set by a government regulator. Food inflation also slowed to 2.9 percent, from 4 percent.<\/p>\n

The steep decline in headline inflation, closing in on the central bank\u2019s target, signals a new phase in British policymakers\u2019 battle against inflation. Having aggressively raised interest rates after prices soared following pandemic lockdowns and the turmoil in energy markets after Russia\u2019s invasion of Ukraine, central bankers are trying to determine how much inflationary pressure is left in the economy and how soon they can cut interest rates.<\/p>\n<\/div>\n