Forbes on Nostr: Interest Rates & Inflation: UK Inflation Falls By Less Than Expected Denting Hope Of ...
Interest Rates & Inflation: UK Inflation Falls By Less Than Expected Denting Hope Of Early Interest Rate Cut
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UK annual inflation fell to 3.2% in March 2024, its lowest level in over two years, down from 3.4% the previous month. The Consumer Prices Index (CPI) rose by 0.6% in March compared to a rise of 0.8% in March 2023. The largest downward contribution to the headline figure came from food prices, while rising fuel prices partially offset the fall. The Bank of England is unlikely to cut interest rates before autumn due to inflation still running above target. The European Central Bank and US Federal Reserve are also grappling with the challenge of reducing borrowing costs while inflation remains high. US inflation rose to 3.5% in the year to March, while Eurozone inflation stood at 2.4%. The Bank of England's next interest rate-setting decision is due on 9 May.
#UkInflation #ConsumerPricesIndex #BankOfEngland #InterestRates #EconomicGrowth
https://www.forbes.com/uk/advisor/personal-finance/2024/04/17/inflation-rate-update/
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UK annual inflation fell to 3.2% in March 2024, its lowest level in over two years, down from 3.4% the previous month. The Consumer Prices Index (CPI) rose by 0.6% in March compared to a rise of 0.8% in March 2023. The largest downward contribution to the headline figure came from food prices, while rising fuel prices partially offset the fall. The Bank of England is unlikely to cut interest rates before autumn due to inflation still running above target. The European Central Bank and US Federal Reserve are also grappling with the challenge of reducing borrowing costs while inflation remains high. US inflation rose to 3.5% in the year to March, while Eurozone inflation stood at 2.4%. The Bank of England's next interest rate-setting decision is due on 9 May.
#UkInflation #ConsumerPricesIndex #BankOfEngland #InterestRates #EconomicGrowth
https://www.forbes.com/uk/advisor/personal-finance/2024/04/17/inflation-rate-update/