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UK Economy: Inflation Hits 2% Goal, Buoying Case for Rate Cut
Posted
June 19, 2024
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2:42Now PlayingUK inflation fell to the Bank of England’s target for the first time in almost three years, supporting the case for interest-rate reductions by the Bank of England later this year. The Consumer Prices Index rose 2% from a year ago in May, down from 2.3% the month before, the Office for National Statistics said Wednesday. Hetal Mehta, head of economic research at St. James's Place Management, breaks down the data.
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