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Britain's inflation rate could be about to drop below the Bank of England's 2% target
U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England’s 2% target. That would represent a plunge from the current level of 3.2% and could “make or break” a June interest rate cut, economists say. The decline will largely be driven by the energy market, after the regulator-set cap on household electricity and gas bills came down by 12% at the start of April. A reading below 2% on Wednesday would be the lowest headline inflation rate since April 2021, and a cooling from the peak of 11.1% hit in ... (full story)
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