The Office for National Statistics released inflation figures for May on Wednesday.
U.K. inflation fell to the Bank of England's target of 2.0% in May, the Office for National Statistics said Wednesday.
The headline reading declined from 2.3% in April, bringing it in line with the central bank's 2% target.U.K. inflation fell to the Bank of England's target of 2.0% in May, the Office for National Statistics said Wednesday, in the last print of the key economic measure ahead of national elections in July.Services inflation — which is closely watched by the BOE given its dominance within the U.K. economy and its reflection of domestically-generated price rises — was at 5.
Nevertheless, with inflation now falling closer to target, markets are now pricing in a near-term cut. All but two of 65last week said they expected an interest rate trim in August, while financial markets are pricing in such a curb in September. It comes as the U.K. gears up for its general election on July 4, with polls pointing to a landslide victory for the opposition Labour party.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK inflation falls to Bank of England's 2% target ahead of electionsThe Office for National Statistics released inflation figures for May on Wednesday.
Read more »
Kris Mayes explains why her office searched the Apache County Attorney's OfficeFormer President Donald Trump made a campaign stop in the Valley Thursday. Here's a recap of the event.
Read more »
Office siren? Meet office demon.What’s trending, exactly? It seems to be a new, chaotic iteration of the buttoned-up “office siren” look.
Read more »
Big Sunnyvale office complex is seized by lender as office woes widenA big office complex in Sunnyvale that could be replaced by housing has been seized by its lender.
Read more »
Big Sunnyvale office complex is seized by lender as office woes widenA big office complex in Sunnyvale that could be replaced by housing has been seized by its lender.
Read more »
Five fundamentals for the week: French opinion polls, US Retail Sales and Bank of England eyedWill France or England win? Regarding football, we'll know only in a few weeks, but when it comes to political attention, the French are stealing the show.
Read more »